FSC Mauritius is taking part in the World Pension Summit Africa Special in Abuja Nigeria this week with the Chief Executive, Ms Clairette Ah‐Hen, speaking in the first panel on “Africa Regulatory Dialogue”.
The role of the pensions industry in providing a stable consumer savings vehicle and the investment of capital from pension funds have become increasingly important in today’s evolving business environment.
The conference, organised on 7‐8 July in Abuja, is part of a wider series of world class events – World Pension Summits ‐ attracting pension professional delegates from around the African Continent ‐ including government representatives, pension regulatory authorities, policy makers and leading pension industry figures from Nigeria.
The event is jointly organised by the National Pension Commission (PenCom) of Nigeria and the World Pension Summit and marks the 10th anniversary of pension reforms in Nigeria.
Among the highlights of the summit, the plenary session on “Africa Regulatory Dialogue” with the participation of African pension regulators, where the growing importance of effective regulation in pension systems was discussed.
Intervening as panelist for this session, the FSC Chief Executive said: “It is important to think in terms of several pillars of retirement provision rather than focus exclusively on just one pillar”. She also mentioned that “All pensions systems have embedded risks that must be understood and managed”.
Reforms and responding to needs of present and future pensioners is important and is an on‐going process.
Addressing participants at the summit, Nigerian President Ebele Goodluck Jonathan said: “It is imperative that stakeholders in this life shaping‐industry engage constantly in dialogues to bolster management frameworks and practices in their respective jurisdictions.”
Discussions at the summit focused precisely on this need to encourage dialogue among all stakeholders on opportunities that exist for access to pensions. The importance of protecting those reaching retirement through adequate safeguards and lessened risks was highlighted as well as the specific nature of pension funds and the need for social pensions for poverty alleviation.
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