Dutse, Feb. 21, 2025
Jigawa State and Local Governments Contributory Pension Scheme Board, has signed agreements with six Pension Fund Administrators (PFAs) on Friday, to ensure effective management of the state’s pension funds.
Signing the agreement on behalf of the government, the State Head of the Civil Service, Alhaji Muhammad Dagaceri said, the event reinforced government’s commitment to securing the financial future of pensioners and enhancing transparency.
Dagaceri emphasized the importance of prudent financial management and the need to provide retirees with reliable and accessible pension benefits.
“This agreement marks a significant step in our efforts to ensure that our retirees receive their rightful entitlements in a timely manner.
“We believe that partnering with these esteemed Pension Fund Administrators, will safeguard the funds and also enhance the growth and sustainability of our pension assets,” he stated.
He however, reaffirmed the Namadi administration’s dedication, to the welfare of retirees, stressing that it is a broader commitment, to improve public service delivery and accountability in the management of State resources.
Meanwhile, the selected Pension Fund Administrators, were chosen through a thorough vetting process to provide comprehensive management services, including investment strategies, fund performance monitoring and customer service enhancements.
The aim of the process is to mitigate risks and optimize returns on pension contributions, according to the Head of service.
On behalf of the PFAs, the Managing Director of Premium Pension Fund, Hamisu Bala-Idris, assured the board that they will adhere to the the agreement, particularly, on return on investment.
He described Jigawa State Pension Scheme as the best in the Country and commended the government for the great commitment.
In his Speech, the Executive Secretary, Jigawa State and Local Governments Contributory Pension Scheme Board, Dr. Bilyaminu Shitu, disclosed that, the selected Pension Fund Administrators will manage the Board’s assets.
They are Premium Pension Fund (lead PFA), PAL Pension, GT Pension, NLPC Pension, Norrenberger Pension and Crusader Sterling Pension respectively.
He explained that the funds were shared among the PFAs, based on their pedigrees, particularly the ability for return on investment with the highest allocation of 20 percent, while the lowest was 16 percent.
Dr. Shitu however, commended, Governor Namadi, for his tremendous support to the scheme, which made the state the best model in the country.
By Aisha Ahmed
