President Muhammadu Buhari yesterday assured that his administration will ensure that all inherited outstanding pension liabilities of the Federal Government are addressed despite the scarce resources available to it.
Buhari, who spoke while declaring open the two-day World Pension Summit holding at the Transcorp Hilton Hotel, Abuja, said the National Pension Commission (PenCom) has been asked to step up its enforcement drive to ensure full compliance by the public and private sector institutions in line with the enabling law.
He said the summit with ”Pension Innovations: The African Perspective” as its theme, was a welcome development as it brought together pension professionals around the world to discuss and exchange ideas on strategies on the much needed private sector funding.
He noted that the Contributory Pension Scheme (CPS) has eliminated corruption and stabilised the pension system.
He added that it is globally acknowledged that pension matters occupy a strategic space not only as a vital component of social security, but also as a vehicle for nation building.