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Sunday, 28 June 2015

26 states withhold implementation of Pension Scheme

Only 10 out of the 36 states of the federation are implementing the contributory pension scheme (CPS) designed to guarantee availability and prompt delivery of pension entitlement of workers upon retirement.
Also over N60 billion cases of non-remittances of contributions by some state governments have been reported and where the funds went into are still unknown as some of the affected states are still investigating the alleged non-remittances.
Findings shows that the complying states as at June 2015; are Lagos, Osun, Ogun, Ekiti, Kaduna, Zamfara, Niger, Delta, Rivers and Jigawa states.
Vanguard investigations however show that 14 other states have enacted the enabling law which is the first stage in the process of implementation but they are yet to take further steps to actualise the dreams of their workers. These states are Bayelsa, Edo, Kano, Kebbi, Kogi, Sokoto, Oyo, Imo, Taraba, Ondo, Anambra, Enugu, Adamawa and Gombe states.

*File: Pensioners queuing for verification
Further breakdawn of the CPS implementation statistics at the states shows that the states behind in the implementation are still putting together the pension bill. They are Abia, Bauchi, Benue, Borno, Cross River, Ebonyi, Katsina, Kwara, Plateau, Yobe and Akwa Ibom states 10 years after the scheme took off.
The implication of the above statistics is that workers in the 26 states that are yet to commence implementation would have difficult time after retirement as many who have retired before now under the old pension scheme died without collecting their pensions.

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