Pension Review Magazine

Pension Review Magazine

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The NPF Pensions Limited sets aside N400 million annually for retirement support welfare scheme, which is meant to cushion financial problems that might be encountered by retired police personnel awaiting their gratuity.

Speaking during a pre-retirement seminar held in Abuja yesterday, the Managing Director of the firm, Hamza Sale Wuro Bokki, lectured participants on how to use their retirement benefits to establish profitable businesses.

Bokki used the opportunity of the seminar held simultaneously in all the zones across the country to advise the retirees to engage in businesses that will make them live comfortable lives in future.

 

 

The Board of Premium Pensions Limited has appointed Mr. Kabir Ahmed Tijjani as an Executive Director and Mr. Lamido Yuguda as Non-Executive Director.

A statement from the Company’s Corporate Communications, signed by Aliyu Mohammed Ali, indicated that the new appointments were made out of “a strategic performance-driven reward system aimed at achieving immense potentials within the pension industry.”

Mr. Tijjani, a seasoned corporate legal practitioner, joined Premium Pension Limited since its inception in 2005 as a management staff and rose to become the company’s Chief Marketing Officer (CMO).

Mr. Yuguda, a Fellow of Institute of Chartered Accountants of Nigeria (ICAN), brought to the Board of Premium Pension Limited more than three decades of experience as a central banker, economist and Investment manager.

The statement indicated that the new appointments were expected to enhance robust business development by the Company.

 

 

The Jigawa State and Local Government Contributory Pension Scheme Board said it had paid about N711 million as entitlements to 419 beneficiaries.

The Director of Administration and Finance (DAF) of the board, Mallam Muhammad Musa, made this known while speaking with newsmen in Dutse on Tuesday.

Musa said that the benefit was paid to those who retired from service at the state and local government level, as well as those from the Local Education Authority (LEA).

He said relatives of workers who died while in active service were also paid, adding that all the beneficiaries were thoroughly screened before they were given the money.

“All payments were supposed to be made in December 2017, but we are paying in January 2018 due to the death of our Executive Secretary.

“We are up-to-date in the payment of entitlements to retirees, including those who died in active service.

“The scheme does not cover only state and local government employees, but also those who work with the LEAs.

“And for the survivors of deceased workers, we don’t give cash, they collect their cheques from the court registrars, to avoid any problem,’’

 

 

 

 

 The United Nations has appointed Minister of Finance, Mrs Kemi Adeosun into the Investments Committee of the United Nations Joint Staff Pension Fund (UNJSPF).

In a statement signed by the Adeosun’s  Special Adviser, Media and Communication, Mr Oluyinka Akintunde, on Sunday in Abuja, the minister would serve a one-year term effective from January 1, 2018.

According to the statement, UN Under-Secretary-General, Jan Beagle, in a letter said that the appointment was ratified at the 55th plenary meeting of the 77th session of the General Assembly.

“The General Assembly decided to appoint you as an ad-hoc member of the Investment Committee for a one-year term of office, beginning from 1st January, 2018.

“I would like to take this opportunity to congratulate you on your appointment and wish you success in your work,” he said.

Also, the representative of the UN Secretary-General on the Investments Committee, Ms Carolyn Boykin, congratulated the minister on her appointment and welcomed her to the committee.

Boykin said that the purpose of the investments was to secure the pension entitlements of the international civil servants participating in the Fund.

“The fiduciary responsibility is to all parties concerned and it is the responsibility of the Secretary-General to ensure that those investments are managed to preserve the capital of the Fund.

“And to also obtain a long-term real rate of investment return that is in line with the actuarial assumptions, without jeopardising the capital of the Fund by taking excessive risks,” she said.

The UNJSPF provides pension, death, disability and the other related benefits for staff of the United Nations and other organizations admitted to membership in the Fund.

It is a multiple employer defined benefit plan governed by the United Nations Joint Staff Pension Board, the Staff Pension Committee for each member organization, and a secretariat.

The Fund was established through UN General Assembly resolution 248 (III), passed in December 1948 and came into effect on January 23, 1949 as a permanent retirement scheme.

It currently serves 23 member organizations, with 128, 262 active participants and approximately 75,000 retirees in nearly 200 countries.

According to the statement, Adeosun has accepted her appointment into the UN committee. (NAN)

 

 

The Association of Forensic and Investigative Auditors (AFIA) in Nigeria has called on the government to attack financial frauds before they occur.

The president of the association, Mrs. Victoria Enape Ayishetu, who made the call in Abuja, said nipping fraud in the bud can only occur through forensic audit.

She spoke at the induction and training of new members titled “Transition to Forensic and Investigative Audit 2” held in Abuja. 

“Proactiveness is what we keep preaching.  We must be proactive in this respect because prevention they said is better than cure. We should not give room for fraud to take place before we start looking for whom to blame, and if this must be achieved, them our government must think outside the box urgently,”

“Sentiment can never be the solution now if the fight against corruption must succeed. Government needs to embrace this very association called Association of Forensic and Investigative Auditors in Nigeria to enable her assist in all ramifications,” she also said. 

According to her, this is “consequent upon the importance of forensic and investigative audit in fraud prevention and detection and the desire of the government to eradicate corruption from our dear country, a special call is being made today to Nigerian government and all stake holders to join hands in ensuring the passage of the bill of Association of Forensic and Investigative Auditors in Nigeria, which has all it takes to stop all forms of financial fraud and unethical behaviour in government and private organisations, by putting in place preventive measures with the use of advanced Auditing knowledge and technological tools.”

 

 

 

Cocktail is an appetizing juice mixed with flavouring ingredient and sweetener. It has various varieties including alcoholic speciality and could be served best when cold, during meal and after meal.

Health benefits

Experts say it helps in digestion, ease bowel movement, and also works as an anti-depressant and regulates blood pressure.

Common ingredients and combinations for the non-alcoholic type include: Zobo, kunnun aya (tigernut milk) kunnun zaki (millet drink) and kunnun tsamiya. There are other specialities like the fruit juice mixture of orange, watermelon, cucumber, among others.

Starting the business

Home to home delivery is the best option for start-ups as friends and families could be the first customers.

Develop a passion for the business because you might be turned down during this ‘trial version’.

Don’t focus on the profit yet, but on the quality and ensure it is different from what many could ‘simply’ do by themselves.

Ensure you build your knowledge on how to get affordable resources for your cocktails that could tackle the production cost.

As you grow, think of getting extra hand to enhance the delivery speed but don’t over employ in the first instance.

Again, add more value to it and sustain the quality

Keep to delivery time for customers who pre-order your package; it helps you to gain their confidence as many businesses grow through referrals.

Don’t be the ‘relaxing boss’, be deeply involved in every stage of the business at this point.

Don’t eat up your capital, you have not arrived yet!

 

 

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Pension Review Magazine is the authoritative source of information on how these schemes and their sponsoring employers are working together to provide their members with an adequate retirement income.

Our case studies, news analysis and informed comment provide trustees, management teams and their providers with timely, practical information to inform their day-to-day jobs.

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