NUPEMCO: varsity pension rises to N12.5bn
The Nigerian University Pension Management Company Limited, NUPEMCO, has collected N12.5b as contributory pension from university staff in less than two years.
A NUPEMCO delegation led by Alhaji Aliyu Atiku disclosed this in Abuja when they paid a working visit to the Minister of Education, Malam Adamu Adamu.
Atiku expressed delight that the universities were responding positively to the call for investment in and ownership of NUPEMCO.
He said the Academic Staff Union of Universities, ASUU, the principal partner, being owners of the majority shareholding, are responding positively to NUPEMCO in terms of contributions by members of the union.
While lamenting over the low cooperation of some universities, Atiku appealed to the minister to intervene and ensure that the entire universities in Nigeria invest in NUPEMCO.
Responding, Education Minister, Adamu Adamu, charged NUPEMCO to treat the retirees equally, calling on the leadership to use pension contributions judiciously to ensure that retirees start receiving their pension immediately after retirement.
Adamu Adamu further challenged NUPEMCO to be transparent in their administration of pension funds for others to see the seriousness of NUPEMCO as a viable pension fund administrator and also join.