Over 600 Prospective Retirees Attended NPC 2018 Pre-retirement Workshop In Benin City

By Ralph Okhiria, Benin

Not less than 600 intending retirees from Edo and Delta states, last weekend, attended the 2018 pre-retirement workshop organized by National Pension Commissionb(NPC) in Benin City, Edo state.

Speaking at the ceremony, Pension management consultant, Mr Wilson Ideva, advised prospective retirees to always prepare a Will ahead of their retirement to keep their family tightly united.

Mr. Ideva said it was not usually easy for the retirees to adjust to new phase of life when they are now faced with the reality of ``suddenly waking up and not seeing yourself going to work as before.

`` Thinking or making decision on where to stay, remaining at my place of retirement or relocating to my place of birth or village or state capital.

``At retirement, one must take time off to debrief or refresh in order to be able to think right. Do not take hasten decision,’’ he said.

However, Ideva, a former CEO, Premiums pensions Ltd, advised prospective retirees to ensure they planned their retirements well ahead to avoid personal or family crisis.

``A will is to ensure that your estate upon demised is shared the way you want it shared,’’ he said.

`` But If you are scared of preparing will, share your properties to beneficiaries when you are still alive but inform them that ownership will be bestowed upon them at your final exit.

``By doing this, you will have a loving and united family with good bonding and a solid legacy left behind.

``However, for a retirement savings account (RSA) holder, a will is recommended where you give comprehensive details of how your estate including your RSA balance is to be shared.

``This will save your family much delay when accessing your fund by avoiding going to court to obtain letter of administration with the attendant cost", he stated.

Earlier, NPC acting Director General, MRS Aisha Dahir-Umar said the workshop was organized to effectively sensitize intending retirees under the Contributing Pension Scheme (CPS) on the best ways to prepare for life in retirement.

Represented by Mrs Ekanem Aihomu, Head of Benefits and Insurance at NPC, Dahir-Umar said the workshop would also afford participants, being prospective retirees, the opportunity to discuss and address some of the challenges they might face as they enter retirement life under the CPS.

She added that it was gratifying that the commission had been able to make pension administration transparent and seamless in accordance with one of the salient objectives of the Pension Reform Act (PRA 2014).