TheCable

The National Pension Commission (PenCom) says the activities of a certain group — the Association of Pension Desk Practitioners of Nigeria (ASSOPEP) — to assist with pension and retirement benefits is “illicit”.

Warning the public against the association in a statement on Friday, the commission asked Nigerians to take cautious steps in seeking guidance on retirement benefits.

PenCom also denied the association’s claims of affiliation with the pension industry.

“The general public is kindly requested to note that the claims by ASSOPEP are entirely false as the association has no affiliation with the pension industry nor authorisation of any kind whatsoever from PenCom,” the statement reads.

“Moreover, licensed pension fund operators (LPFOs), who are statutorily mandated to undertake the processing and payment of retirement benefits, are not associated with ASSOPEP in any way.

“PenCom, therefore, urges the general public to be cautious of any promise or claim made by ASSOPEP regarding pension and retirement benefits or any other matter relating to the pension industry in Nigeria.

“The commission strongly advises workers, retirees, pension desk officers, and everyone approached by the association with claims of consulting with their pension fund administrators (PFAs) and PenCom for guidance and assistance in respect of their retirement benefits to exercise caution as any interaction with the association is at the individual’s risk.”

PenCom added that the activities of ASSOPEP have been reported to law enforcement agencies for appropriate action.