World pension summit: Glo proffers solution to enhance growth of pension industry

Total telecoms solutions provider, Globacom, which sponsored this year’s World Pension Summit as  Diamond Partner, said it has launched  products and services designed to  aid Nigeria’s fledgling pension industry to achieve “massive growth.”

At the summit tagged “Africa Special”, held at the Transcorp Hilton Hotel in Abuja, Globacom’s Head of Operations, North Central, Akeem Yusuf, disclosed that  the company had developed a structure  made up of  three main components expected to  “achieve best customer experience in pension administration in Nigeria. The components, he said, were Customer-on-Board, Payment Collection Process and Automation.

According to him, the Customer–on-Boarding component was a simplified registration process to assist pension administrators to register, administer and manage their customers, adding that  “a mobile money agent will be created, and all payments will be updated using Glo Mobile-to-Pension Administrator’s database on Real Time basis, Real Time update of payment along with Customer Alert.”

Talking on the third component, Automation, he explained that the current touch points between consumers and banks were either time consuming, cumbersome for subscribers or cost intensive, thus, he assured that the pension administrator’s application from Globacom would be on cloud telephony platform.

“The cloud telephony platform will automate various processes of Pension consumers so that there will be no need for Manual Interventions, especially in terms of personal premiums collection ” he said.

Globacom’s status as  the country’s integrated telecoms operator offering services, has made it easy for the network to  empower its subscribers with tools and automation to make business and life seamless, he added.

Delivering the keynote address at the summit, former President, Chief Olusegun Obasanjo appealed to the National Pension Commission (PenCom) to embrace innovation to forestall the compromise of  the security of funds available to the commission.

“Innovation and sustainability must be with security. We cannot be too adventurous so that people who have worked and saved all their lives should have their money when they need it after retirement,” he said.

The Director General, PenCom, Chinelo Anohu-Amazu, in her remarks gave kudos to Globacom for collaborating with the commission to organise the excellent summit. She noted that  he support of companies like Globacom, has enabled the commission to promote  a sustainable pension industry that has direct  positive  impacts on the economic development of the country.

The event was attended by Governor Nasir el-Rufai of Kaduna State, former governor of Cross River State; Donald Duke; Head of Service of the Federation, Winifred Ekanem Oyo-Ita; the CEO, World Pension Summit, Chris Battaglia, and the Founder and Advisory Board Member, World Pension Summit, Harry Smorenberg, among others.