Mohammed Shosanya
Only 8 states in Nigeria have fully implemented the Contributory Pension Scheme (CPS) twenty years after the enactment of the Pension Reform Act 2004,the Director-General of the National Pension Commission,Mrs.Omolola Oloworaran,has said.
Oloworaran,spoke at a media conference in Lagos,where she also expressed disappointment over the shoddy attention of most state governments to the pension scheme.
Her Commission,she said,would continue to pursue avenues to ensure implementation of the scheme,including possibly advising the central government to deduct workers’ pension from monthly allocations to state governments.
She emphasized the need for all state governments to pass requisite pension law and fully implement the Contributory Pension Scheme (CPS) for workers in their employ,adding that the development is a noble avenue to create endurable living for workers after their active life.
She also spoke on threat by the Nigerian Police Force to exit the Contributory Pension Scheme (CPS),saying such action will rob the country’s pension sector of trillions of naira.
According to her,while it’s within the inalienable right of the police to identify flaws in a system,it’s also important for them to look beyond the development by pursuing path of dialogue with a view to optimally benefitting from the scheme.
She urged the police to reconsider their threat on the scheme,saying the new leadership of PenCom will revolutionize the pension administration in the country to the benefit of all and sundry.
She disclosed the rebrand of micro pension plan in the country,adding that its birth was necessary to deepen the embrace of pension in Nigeria.
She added that the development will impact positively on the nation’s economy and pave way for workers in every strata to develop robust retirement plan.
She also lamented the non-adoption of Contributory Pension Scheme (CPS) by newspapers publishers in the country,adding that the act was a disincentive to their workers,particularly journalists in their employ.
She assured that the Commission would engage the newspapers publishers soon with a view to enabling them exhibit positive to the pension scheme.