- Retirees to Use Voice, Fingerprints for Pension
Operators of the Contributory Pension Scheme are putting in place a biometric method to improve documentations of retirees and ensure proper payments on entitlements.
Some of the characteristics of the process will include the use of fingerprints, voiceprints, facial features, writing patterns, iris patterns and hand geometry.
According to the Pension Funds Operators Association, the method involves the use of passwords and PIN numbers, to ensure highest level of security.
While noting that biometrics being introduced would involve data collection, transmission, signal processing, data storage and decision, it described biometrics as an automated method for recognising individuals based on measurable biological and behavioural characteristics.
The association said that the hardware “captures the salient human characteristic, while the software interprets the resulting data and determines acceptability.”
It noted that fingerprint was the acquisition and recognition of a person’s fingerprint characteristics, and for identification purposes.
The Executive Director, Operations, Crusader Sterling Pensions Limited, Conrad Ifode, said the main objectives of the Contributory Pension Scheme were to establish a uniform set of rules, regulations and standards for the administration and payments of retirement benefits for the public service of the federation, the Federal Capital Territory and the private sector.
He said that the CPS “aims to stem the growth of outstanding pension liabilities.”
Ifode said that the pension reform programme was governed by the key principles of sustainability, safety and security of benefits, transparency, accountability, equity, flexibility, inclusivity, uniformity and practicability.
The pension expert added, “The Pension Reform Act states that a company with minimum number of three employees must have the contributory pension in place.”