HCSF INAUGURATES COMMITTEE TO STRENGTHEN GROUP LIFE ASSURANCE SCHEME FOR FEDERALGOVERNMENT EMPLOYEES

HCSF INAUGURATES COMMITTEE TO STRENGTHEN GROUP LIFE ASSURANCE SCHEME FOR FEDERALGOVERNMENT EMPLOYEES

The Head of Civil Service of the Federation (HCSF), Dr. Folasade Yemi-Esan has inaugurated  a Committee on the implementation of Group Life Assurance Scheme for Federal Government Employees.

The Head of Service inaugurated the Committee on Friday, 13th March, 2020. She mandated the Committee to strengthen the operation of the Scheme and ensure the full realization of its overall objectives and goals.

Dr. Yemi-Esan charged the members to bring their wealth of experience to bear on the assignment. She said “Your appointment to serve on this Committee is based on conviction that you are individuals who possess sound judgment, integrity and the requisite experience to advise objectively in line with global best practices for the seamless implementation of this very important component of welfare programme for Civil Servants”.

The Terms of Reference of the Committee include; to develop the Guidelines for implementation of the Group Life Assurance Scheme; advise on the development of a database for the Group Life Insurance and updating; explore opportunities for utilization of premium paid by Government for Public Servants before death; streamline activities of insurance Companies and Pension Administration; and any other item that would enhance the smooth operation of the Scheme.

The Committee is expected to submit its report within five (5) weeks from the date of inauguration.

A retired Permanent Secretary and member of the Committee, Mr. Yemi Adelakun who responded on behalf of the Committee members promised to deliver a quality report within the specified period.

The Pension Reform Act 2004, section 9 sub-section 3, repealed in 2014 provides that every Employer shall maintain a Group Life Insurance Policy in favour of each Employee for a minimum of three (3) times the total annual emolument of the employee, and premium shall be paid not later than the date of commencement of the cover.

The Group Assurance cover for Federal Government Employees was flagged off in 2008, effective from 1^st July, 2004. The Federal Executive Council on 20^th February approved that Head of Civil Service of the Federation coordinates the procurement of Group Life Assurance Cover service-wide.

Members of the Committee include; the Permanent Secretary (SWO), OHCSF as Chairman; Director (ERW); OHCSF – Member; Director (ODD), OHCSF – Member; Director (IPPIS), OHCSF – Member; Director (EM), OHCSF -Member; Rep. of House Committee on Insurance and Actuarial Matters –Member; Rep. of Accountant-General of the Federation-Member; Rep. of PenCom -Member; Rep. of NAICOM –Member; Rtd Permanent Secretary-Member; Rtd Director (ERW) –Member and Deputy Director (Benefits Administration), OHCSF- Secretary.

Iheoma-Hart, Queenet (Mrs.)

For: Director Communications

OHCSF