Assessing Shariah Pension Fund VI and Issues Facing RSA Holders in Nigeria
Fund VI is a non-interest pension fund for pension contributors and retirees to have several investment portfolio options. It complies with the provisions of Islamic Commercial Jurisprudence to make sure that the fund is suitable for Islamic retirees and pension contributors.
Fund VI is designed by the National Pension Commission to deepen financial inclusion for an underserved segment of the Nigerian population. This will also provide an opportunity to explore products that cut across Sukuk, other Halal income type structures, real estate, and infrastructure.
This edition of the Islamic Finance Weekly anchored by Bukola Akinyele-Yisau features Mrs. Abimbola Sulaiman, Head, Investment Management, ARM Pension Managers (PFA) Limited. She gave an "Overview of Shariah Pension Fund VI and Issues Facing RSA Holders in Nigeria.
Looking at pension fraud issues in Nigeria, Mrs. Abimbola stated that pension-related fraud cases are perpetrated outside the contributory pension scheme. She called for wider coverage of employees both in public and private sectors, to deepen the "contributory pension scheme" under the regulation of PRA 2014.