The Niger Delta Development Commission (NDDC) has advised its staff to take advantage of available pension schemes and other financial planning options to secure their future after retirement.
Mr Kelechi Nwelue, the Director, Administration and Human Resources, gave the advice at a staff interactive session in Port Harcourt on Friday.
Nwelue said that the session was particularly important for newly recruited employees who needed to understand the roles of pension fund administrators.
The director explained that pension administrators managed deductions from employees’ salaries and employer contributions as long-term savings for retirement.
He urged the staff to carefully consider the information provided by participating pension administrators before choosing those to manage their pension contributions.
“It is important to plan for your retirement now, don’t wait until it is too late.
“Employees are at liberty to choose the administrator they consider most suitable for managing their pension funds,” he said.
Also speaking, Mr James Fole, a director in the Directorate of Administration and Human Resources, said that the programme was designed to deepen staff knowledge of pension and insurance.
Fole said that the session would also enable employees to understand the laws guiding pension, insurance, and other financial instruments.
He stressed the importance of acquiring financial knowledge while still in active service to ensure stability after retirement.
According to him, some retirees experience financial difficulties because they failed to adequately plan for their post-service years.
“That is not what the NDDC wants for it’s staff. We want to see retirees enjoy a reasonable level of comfort. That is what this programme hopes to deliver,” he said.
Several pension and insurance companies that participated in the interactive session, used the opportunity to showcase their products, services and retirement planning options.