The National Insurance Commission and the Office of the Head of the Civil Service of the Federation have organised a workshop on Group Life Assurance Policy in Abuja.
According to a statement from the regulator, the workshop is aimed at enhancing the understanding and implementation of the group life policy among stakeholders from government ministries, departments, and agencies.
The revised guidelines for the Group Life Insurance Policy for employees jointly issued by NAICOM and the National Pension Commission stipulate that the insurance cover is mandatory for all employees under the Contributory Pension Scheme as long as they are in employment.
Section 4(5) of the Pension Reform Act of 2014 provides that “every employer shall maintain a group.
“Life insurance policy in favour of each employee for a minimum of three times the annual total emoluments of the employee, and the premium shall be paid not later than the date of commencement of the cover.”
In her opening remarks at the workshop, the Head of the Civil Service of the Federation, Mrs Didi Walson-Jack, who was represented by the Permanent Secretary, OHCSF, Mrs Patience Oyekunle, emphasised the importance of insurance in safeguarding public servants’ welfare and ensuring financial security for their families.
“She commended President Bola Tinubu for renewing the annuity policy and applauded NAICOM for initiating the training,” part of the statement read.
The Commissioner for Insurance, Mr Olusegun Ayo Omosehin, represented the Deputy Commissioner for Finance and Administration, Mr Ekerete Gam-Ikon, who expressed appreciation for the collaboration and assured participants of NAICOM’s commitment to transparency and accountability in policy implementation.
The workshop aimed to equip civil servants with knowledge and tools to effectively manage and benefit from the Group Life Assurance Policy, a critical component of the Federal Government’s welfare package.
The event also marked a significant step in strengthening life insurance policy implementation across the federal civil service, reinforcing the government’s dedication to employee well-being.
