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The National Pension Commission has inaugurated the Pension Industry Non-Interest Advisory Committee to strengthen transparency, security, and compliance in non-interest pension products.

Speaking at the inauguration in Abuja on Monday, the Director-General of PenCom, Omolara Oloworaran, emphasised that the move aligns with the commission’s commitment to innovation, inclusivity, and sustainability in pension administration.

She stated that the initiative would ensure that non-interest pension schemes adhere to global best practices while catering to individuals seeking financial solutions that align with their ethical and religious beliefs.

Oloworaran noted that the establishment of the advisory committee further highlights PenCom’s drive for financial inclusion, expanding the reach of non-interest pension products within the industry.

“The introduction of Non-Interest Pension Funds (Fund VI) was a groundbreaking step in this direction, as it provides an investment option that is free from interest-based instruments while still ensuring competitive returns for contributors,” she said.

She explained that the rising demand for non-interest financial products, driven by increased awareness of ethical finance principles, made it necessary to establish a structured advisory framework to guide regulatory, operational, and market developments.





https://punchng.com/pencom-inaugurates-committee-to-regulate-non-interest-pensions/