WORLD PENSION SUMMIT 2015: Gov. Emmanuel Recommends the establishment of Pension Remittance Institution

Governor Emmanuel has proposed the setting up of an institution that would ensure proper and accurate remittance of pension contributions for proper processes and procedures.

He stated this in an interview with Journalists at the just concluded World Pension Summit 2015 in Lagos.

Read Details Below :

Let us consider that the accumulation of 5 trillion naira pensions fund in the country could create investment opportunities for interested investors.

The main reason for this is that, with over 5
trillion naira - which is over 25 billion dollars - we have investment opportunities where we are doubly sure that the pension fund can actually be invested and money realized. That is the essence of investment.

You don’t invest to lose your capital; you invest to get adequate returns on investment.
Even in terms of road infrastructure, the economic viability of the roads in the South South (zone) is being linked up by Akwa Ibom.
So we can actually earmark some of these for investors to come under the PPP (public private partnership) model.

As a State, we are interested in taking up some equity even as our pensioners are receiving their monthly pension on a regular basis. It is evident that, as a government, we have been concentrating on the development of infrastructure in the past few months especially in terms of human capital development, natural resources and the creativity to drive development in all sectors of the economy.
Adequate funding is therefore required to develop the infrastructure needed to drive the development process.

I talked about the three Cs – cash, commodity and creativity. In this case, we are creative in ideas, policies and approach on programmes we invent.

In terms of commodity, we all know how wealthy we are in terms of the abundant natural resources.
Cash could be a problem, but who owns the cash? It is either the capital market or the pension fund.

Thus, an institution to ensure proper and accurate remittance of  pension contributions for proper processes and procedures is highly recommended