CPS: PenCom Worried Over Low Level Compliance By State Governments 

Yemisi Izuora

The National Pension Commission, PenCom, is putting pressure on State Governments to effectively key into the Contributory Pension Scheme, CPS, as a way to achieve beneficial retirement to workers.

Oriental News Nigeria recalls that a recent PenCom report titled, ‘Level of implementation of the Contributory Pension Scheme by states as of June 2021’ disclosed that only 25 states had enacted laws to join the scheme.

According to the report, the states are Bayelsa, Anambra, Taraba, Lagos, Osun, Kaduna, Delta, Ekiti, Ondo, Edo, Benue, Kebbi, Niger, Rivers, Ogun, Kogi, Abia and Imo, Sokoto, Adamawa, Ebonyi, Nasarawa, Enugu, Oyo and the Federal Capital Territory.

But unfortunately, out of the 25, only five states – Delta, Lagos, Osun, Kaduna, and the FCT are actually paying pensions to retirees under the CPS and funding the accrued rights benefits under the old pension scheme that the retirees are also entitled to.

Oriental News Nigeria further reports that after enacting the CPS laws, Enugu, Adamawa, Anambra, Sokoto, Abia, Taraba, Imo, Ebonyi, Nasarawa, and Oyo states are yet to establish pension bureaux to commence the scheme.

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