New dawn beckons for workers, administrators, others as book on pension management debuts in Abuja
A new dawn beckons for Nigerian workers, students, specialists, government’s institutions and policy makers, with respect to pension management, administration and regulation in Nigeria.
The hope lies in a new book to debut next week, in Abuja.
The specialised book, titled: “Understanding Pension Administration and Management in the Contemporary World”, is authored by a technocrat and academia, Dr Imran Saheed Adekunle.
In a press release signed by the launch Media, Publicity and Mobilization anchor, Tajudeen Balogun on Tuesday, the book was written to ensure that active employees, retirees and workforce across various sectors of the economy are exposed to basic knowledge and skills on “Defined Benefit and Contributory Pension Schemes in Nigeria and several other Jurisdictions in the World”.
The author, Dr Saheed disclosed that he was motivated to write the book as a result of the fact that reading materials on pension administration and management are very scanty in the context of Nigeria, as well as several other climes, adding “this book is purposely written in order to address this chasm”.
“The book is specifically concerned with historical backgrounds on pension adminstration and management including actuarial valuations, pension benefits calculations and some highlights of pension administration in some other countries” said Dr Saheed.
The author stated further: “The book is distinctively prepared to boost the knowledge of individuals who want to gain certification in Pensions Administration, Management and Actuarial Science at the Diploma, degree or post-graduate levels as it would be substantially essential to their understanding of necessary calculations in pensions and actuarial valuations.
“The book is distinctive in the sense that each topic is preceded with learning objectives followed by necessary illustrations and other useful learning resources. It is also deliberately arranged in such a way that it will be easy to read and understand, while necessary graphics are introduced to make it appealing, practical and reader-friendly to people of all classes. It equally contains some illustrations and examples so as not to make it needlessly wordy.
“The book will undoubtedly serve as a solid foundation for both students and non-pension professionals who would want to deepen their knowledge, skills and competence in pension administration and management”.
In addition, Dr Saheed indicated that the incoming book equally offers some suggestions that could strengthen some of the provisions of the Pension Reform Act, 2014 (Amendment Bill) especially as it relates to the Nigerian 1999-Constitution and PRA-2014 backed periodic review of Accrued Pension Right, Post-PRA, 2014 Exemption of some Treasury Funded MDAs from the CPS.
Similarly, he revealed it is to further adaptation of the Contributory Pension Scheme to suit local expectations, such as Treasury Funded Gratuity payment to retired workers, other than the Pension Contributions (RSA balances at retirement) with a view to further improving the operations and management of Pensions in Nigeria as well as some other countries.
The book has a lot to offer, as it is also poised to promoting the inclusivess of workers in the informal sector of the economy in the micro-pension plan (MPP) as they constitute over 60% of the working population in Nigeria and some other developing economies.
Dr Saheed confirmed that the book will be available at various interested book stores, Book Fairs, as well as online (amazon, kindle) among others.
The unveiling of the book, to hold alongside free medical check up, is slated for next week Wednesday, December 11, 2024, at the Merit House, Maitama, Abuja.
Meanwhile, Prof. Kabiru Isah Dandago, former Kano State Commissioner of Finance (2015 – 2017) and President, Non-interest Finance Professionals of West Africa, as well as Dr Babatunde Alayande, of Micro Pensions department, National Pension Commission, have been announced as the Book reviewers.
Signed by:
Tajudeen Balogun,
Media, Publicity, Mobilization Anchor,
Tuesday, December 3, 2024.
