A new book on pension administration and management which exposes workers, and retirees, among others, to basic knowledge and skills on defined benefit and contributory pension schemes in Nigeria will be launched in Abuja on Wednesday, December 11.
Described as a new dawn for Nigerian workers, students, specialists, government institutions and policymakers with respect to pension management administration and regulation in Nigeria, the specialised book, “Understanding Pension Administration and Management in the Contemporary World”, is authored by a technocrat and academia, Dr Imran Saheed Adekunle.
A press release signed by the launch Media, Publicity and Mobilisation anchor, Tajudeen Balogun, made available to Tribune Online in Abuja, informed that the book was written to ensure that active employees, retirees and workforce across various sectors of the economy were exposed to basic knowledge and skills on “Defined Benefit and Contributory Pension Schemes in Nigeria and several other Jurisdictions in the World”.
According to the release, the author, Saheed informed that he was motivated to write the book due to the fact that reading materials on pension administration and management were very scanty in the context of Nigeria, as well as several other climes.
“This book is purposely written to address this chasm.
“The book is specifically concerned with historical backgrounds on pension administration and management including actuarial valuations, pension benefits calculations and some highlights of pension administration in some other countries.
“The book is distinctively prepared to boost the knowledge of individuals who want to gain certification in Pensions Administration, Management and Actuarial Science at the diploma, degree or post-graduate levels as it would be substantially essential to their understanding of necessary calculations in pensions and actuarial valuations.
“The book is distinctive in the sense that each topic is preceded with learning objectives followed by necessary illustrations and other useful learning resources.
“It is also deliberately arranged in such a way that it will be easy to read and understand, while necessary graphics are introduced to make it appealing, practical and reader-friendly to people of all classes.
“It equally contains some illustrations and examples so as not to make it needlessly wordy.
“The book will undoubtedly serve as a solid foundation for both students and non-pension professionals who would want to deepen their knowledge, skills and competence in pension administration and management.”
In addition, he further informed that the book equally offers some suggestions that could strengthen some of the provisions of the Pension Reform Act, 2014 (Amendment Bill), especially as it relates to the 1999 Constitution of the Federal Republic of Nigeria and PRA-2014 backed periodic review of Accrued Pension Right, Post-PRA, 2014 Exemption of some Treasury Funded MDAs from the Contributory Pension Scheme (CPS).
Similarly, the author revealed that it was to further adaptation of the Contributory Pension Scheme to suit local expectations, such as Treasury Funded Gratuity payment to retired workers, other than the Pension Contributions (RSA balances at retirement) with a view to further improving the operations and management of pensions in Nigeria as well as some other countries.
According to the release, the book has a lot to offer, as it is also poised to promote the inclusiveness of workers in the informal sector of the economy in the micro-pension plan (MPP) as they constitute over 60% of the working population in Nigeria and some other developing economies.
Dr Saheed confirmed that the book would be available at various interested bookstores, and book fairs, as well as online (amazon, kindle), among others.
The release informed that the unveiling of the book, to hold alongside a free medical check-up, was slated for Wednesday, December 11, 2024, at the Merit House, Maitama, Abuja.
Meanwhile, Professor Kabiru Isah Dandago, former Kano State Commissioner of Finance (2015 – 2017) and President, Non-interest Finance Professionals of West Africa, as well as Dr Babatunde Alayande, of Micro Pensions department, National Pension Commission, have been announced as the book reviewers.
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