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Nigeria’s Pension Regulator, PenCOM, Denounces ASSOPEP

….Warns Stakeholders Against Patronizing Them

The regulatory agency in the Pension Sector of Nigeria, the National Pension Commission, PenCOM for short, says it’s attention “has been drawn to the illicit activities of the Association of Pension Desk Practitioners of Nigeria (ASSOPEP)”.
The denunciation of the group and its activities is contained in a disclaimer which was circulated to the media on Friday evening
The Commission stressed that it has taken special note of ASSOPEP’sclaims of resolving pension issues and assisting retirees in securing their retirement benefits.
Such claims are entirely false according to the regulator.
“The general public is kindly requested to note that the claims by ASSOPEPare entirely false as the Association has no affiliation with the pension industry nor authorization of any kind whatsoever from PenCom”.
“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”, the statement added.
“PenCom, therefore, urges the general public to be cautious of any promise orclaim made by ASSOPEP regarding pension and retirement benefits or any other matter relating to the pension industry in Nigeria.
“The Commission especially 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 own risk.
“PenCom has, in the meantime, reported the activities of ASSOPEP to law enforcement agencies for appropriate action”

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