21 States Pass Pension Reform Bills

21 States Pass Pension Reform Bills

A total of 21 states out of the 36 states of the federation and Abuja have passed the Pension Reform bill, which has as its flagship, the Contributory Pension Scheme (CPS).

14 states are still in the various stages of passing the bill while seven states have started contributions under the Contributory Pension Scheme. But one state is yet to make any effort towards adopting the Pension Reforms.Mr Polycarp Anyanwu, the Head, Zonal Operations Department, PenCom, said at the weekend in Abuja that the Pension Reform Act, 2004 introduced the Contributory Pension Scheme for both public and private sectors as well as maintained the defined benefit scheme for those exempted. “It established PenCom to formulate, direct and oversee the overall policy on Pension Matters in Nigeria,” he said.

Meanwhile, the South-West Zonal Office of the National Pension Commission (PenCom) would be opened soon as the Commission has almost cleared all administrative bottlenecks hampering the official opening of the office.

According to him, the Lagos Zonal Office of the Commission is very critical and strategic because it is going to lessen the burden of large percentage of retirees who often travel to the Abuja Head Office for pension-related matters.

He said that in the last two weeks, the Acting Director General of PenCom, Mrs. Chinelo Anohu-Amazu has ensured that everything was done to facilitate the opening of the Lagos office and efficient operation of the offices earlier opened.

He reiterated that the idea behind the establishment of the zonal offices was to extend the services of the commission closer to its stakeholders. “Already, we have zonal offices in Calabar for South-South, Ilorin for North-Central, Gombe for North-East, Kano for North-West and Awka for South-East,” he added.

“The Zonal Office will facilitate logistics and make it easier for PenCom to carry out the usual enrolment exercises for prospective retirees,” he said.

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