Mrs Chinelo Amazu, the Acting Director General, National Pension Commission (Pencom), has disclosed that up to 5.56 million participants have been registered into the Contributory Pension Scheme (CPS) since 2004, CEOAFRICA gathered.

Speaking at the inauguration of the South-South zonal office of Pencom in Calabar, Cross River State capital, Mrs. Amazu said that the commission had generated a large pool of investible funds of over N3.34 trillion, amount invested in various instruments based on the statutory guidelines.

According to her, these are part of the achievements of the commission since its establishment in 2004.She said that the commission was amending the Pension Refofm Acts of 2004 which had passed through the second reading in the Senate.

The agency, she said, had succeeded in issuing regulations which has ensured the smooth running of the industry and creating job opportunities. She said that Pencom had also made possible the administration of retirement benefits which ensures that the pensioners get their pay when due and the establishment of six zonal offices across the country.

“It is our expectation that retirees, active workers and other stakeholders will tap the opportunities offered by the Calabar Zonal Office to lodge complaints.” She said.

Speaking at the occasion, the Executive governor of Cross River State, Liyel Imoke said that the state government was ready to utilize the opportunities offered by the office to regularly interact with Pencom for the benefit of workers in the state.

The Governor further said “This pool of pension fund is a potential platform for attaining the transformation agenda of government in the provision of infrastructure, energy, employment generation and the development of real sector.”

Also at the occasion, Sen. Aloysius Etuk, Chairman Senate Committee on Establishment, Ethics and Privileges, said it was sad that retirees had to travel all the way to Abuja before collecting their pensions. Etuk said that the establishment of the zonal office was a step in the right direction.