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Data Recapture Exercise to ensure the security of pension under the CPS- PenCom

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The National Pension Commission (PenCom) has stated that it is committed to ensuring that all Contributory Pension Scheme (CPS) retirees are fully recovered and individually identifiable on the database, allowing only bona fide Retirement Saving Account (RSA) holders to access their contributions.

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Mrs. Grace Usoro, head of PenCom’s National Data Bank Management Department, revealed that the data recapture exercise for government agencies was still important to the Commission, and that it would continue until “the last contributor who registered before the cut-off date of July 2019 has been fully recaptured.”

She noted that the initiative, which is in its pilot phase, intended to enable the agents to collect contributors who enrolled under the CPS before July 2019. She spoke immediately after an inspection of one of Payone Solutions Systems’ data recapture centres in Abuja.

She noted that at the time, the Commission was able to implement an upgraded registration system with built-in controls and standards that fulfilled the National Identity Management Company’s (NIMC) minimal levels for individuals registered under the CPS.

The change meant that “contributors who enrolled before July 2019 did not achieve this minimum requirement,” according to Usoro.

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“As a result, the data recapture effort has been implemented to allow those donors to bring their records up to date,” she explained.

Commissioner Technical Department, PenCom, Mr. Anyim Nyerere, also commented on the development, clarifying that the purpose of the exercise, which would be fully escalated by January, was to ensure that all CPS contributors have up-to-date information with the commission as well as the Pension Fund Administrators (PFAs).

He said the PFAs had agreed to appoint two agents who have been allowed by the commission to begin data recapturing, which is scheduled to continue roughly a year, in order to speed up the scheme’s data recapturing and provide contributors the opportunity to update their records.

The data collecting agents were “commissioned to perform this exercise on behalf of the PFAs,” he explained.

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