The ongoing data recapturing of pension contributors and retirees by Pension Fund Administrators (PFAs) nationwide is meant to protect pension clients against cybercrime and other fraud, the Managing Director, IEI-Anchor Pension Managers Limited, Mr. Glory Etaduovie, has said.

Etaduovie in a paper titled: National Data Base Harmonisation and Pension Data Recapture, made available to journalists in Lagos stated that since last year, the National Pension Commission (PenCom) has been upbeat about data recapture of PFAs existing clients and to streamline future contributors’ registration in a move to have an accurate database.

He emphasised the need for national ICT database, noting that information, like communication, is the lifeblood of a nation.

He said that with the massive pension fund accumulation and its fast pace of growth drawing attention, individuals with bad intentions are exploring how to penetrate the fund structure, hence, the need to enhance cyber security.

He pointed out that aside individuals with bad intent, pension fund is now a veritable source of funding and development in the country.