Pension Unit

INTRODUCTION

Welcome to the pension unit of the Registry, Michael Okpara University of Agriculture, Umudike, Nigeria. The Pension Unit is a newly created Subsidiary of the Registry. It took off effectively on March 14, 2016.

What we do in the Pension Unit:

The Vision of the unit is to provide efficient and accurate service to all staff of the University.

Our Mission is to ensure that all outstanding issues concerning the implementation of the Pension Reform Act (PRA) is cleared and this includes Pension Transitional Directorate (PTAD), National Pension Commission (PenCom) and Group Life Insurance matters.

The Pension Unit of the Registry works with all staff of the university to create awareness and disseminate information on the Pension Reform Acts of 2004 and 2014. In addition it handles matters affecting retirees and the next of kin of deceased staff. The Pension Unit also:

·  Maintains records of all retirees of the university.

·  Compile and forward accurate staff nominal roll in the approved format to PenCom as necessary

·  Keeps record of the contact address of all pensioners and contacts them when necessary..

·  Liaises with the National Pension Commission (PenCom) on behalf of all staff on pension matters.

·  Liaises with the various Pension Fund Administrators (PFA) to ensure there is cohesion between PenCom and the PFAs on proper handling of Retirement Savings Accounts (RSA) and pension benefits.

·  Accompanies staff due for retirement to the approved zonal center for certification during the annual Enrolment and Verification exercise.

· Follow up retirement notices given to staff who are due for retirement leave.

· Handling of PTAD matters

· Maintains a register of all staff who exit service through dismissal, termination, compulsory retirement or resignation.

· Propose date and organize meetings for MOUAU retirees under PTAD.

· Assist the next of kin of all deceased staff the death benefits of their benefactors.

With this crop of dedicated staff, the Pension Unit in the last one year has turned around the unit for the benefit of the staff.

We organize enlightenment programmes with the National Pension Commission and customer fora by the Pension Fund Administrators. The staff on their own attends enlightenment programmes organised by various PFAs.