Director of Administration and Human Resources, Sir Kelechi Nwelue (3rd right); Director, Human Resources, Mr James Fole (3rd left); Director Agric and Fisheries, Engr. Ehimhen Eigbe, and other officials during the Staff Interactive Session with Pension Managers/Client Information Update at the NDDC Headquarters in Port Harcourt.
The Niger Delta Development Commission (NDDC) has urged its staff to take retirement planning seriously by maximising pension schemes and other financial instruments that can guarantee financial security after their years of active service.
The Director of Administration and Human Resources, Sir Kelechi Nwelue, gave the advice during a commission-wide staff interactive session with Pension Fund Administrators (PFAs) and insurance companies at the NDDC headquarters in Port Harcourt, Rivers State.
In a statement signed and issued by Seledi Thompson-Wakama
Director, Corporate Affairs, Nwelue said the programme, approved by the Managing Director of the commission, Dr Samuel Ogbuku, was organised to sensitise staff on pension schemes and provide them with the knowledge required to make informed decisions about their retirement savings.
He particularly urged newly recruited employees to acquaint themselves with the operations and responsibilities of various PFAs before choosing an administrator to manage their pension contributions.
According to him, pension contributions deducted from employees’ salaries, alongside employers’ contributions, constitute long-term savings designed to provide financial support after retirement.
He urged staff to carefully assess the information provided by the participating pension administrators and choose the option best suited to their long-term financial interests.
Nwelue stressed that employees were at liberty to select their preferred pension administrator, noting that the interactive session provided an opportunity for the various companies to explain their products, services and benefits.
Also speaking, a Director in the Directorate of Administration and Human Resources, Mr James Fole, said the programme was aimed at deepening employees’ understanding of pension, insurance and other financial instruments that could improve their financial wellbeing during and after active service.
Fole warned that inadequate preparation for retirement could expose employees to financial hardship in their post-service years.
He said: “That is not what the Managing Director, Executive Management and the entire management want for our staff. We want to see a situation where retirees enjoy a reasonable level of comfort, knowing that the Commission has contributed to their future.”
He added that equipping employees with appropriate financial knowledge while they were still in active service remained critical to achieving a financially secure retirement.
Several pension and insurance companies participated in the interactive session.
