From Joseph Inokotong, Abuja



Employees of state government in the five South-East zone of Nigeria may be in for hard times after retirement because their respective state governments have not implemented fully the Contributory Pension Scheme (CPS).

This implies that on their retirement from service, the employees would not be able to get their entitlements due to the inability of their state governments to implement the CPS.

Information gleaned from the National Pension Commission (PenCom) shows that aside Anambra State that has implemented partly the CPS, four others – Abia, Ebonyi, Enugu and Imo States are yet to implement the scheme.

Records from the PenCom indicate that Anambra State government in 2013 enacted law on CPS and amended some sections of the law in 2014 and went ahead to register employees with Pension Fund Administrators (PFAs), remitting 10 per cent employer and 5 per cent employee contributions.

The State also “remitted employer pension contributions up to December 2017 and remitted employee pension contribution up to August 2020 for State employees. It “remitted employee and employer pension contributions up to August 2018 for Local Government employees; conducted Actuarial Valuation and opened Retirement Benefits Bond Redemption Fund Account with a PFA, for Local Government employees in line with the State Law”.

However, document from PenCom shows “irregular funding of Accrued Pension Rights for Local Government employees; yet to establish Pension Bureau (implementation being driven by Office of the Head of Service & Joint Account Allocation Committee)”.

It also indicates that Anambra State is “yet to open Retirement Benefits Bond Redemption Fund Account for State employees; yet to commence funding of Accrued Pension Rights for State Employees”, and has “no Group Life Insurance Policy”.

On the other hand, the PenCom record shows that Abia State government enacted Law on CPS in 2017 but it’s yet to establish Pension Bureau; yet to register State Employees with PFAs; yet to commence remittance of Pension Contributions and yet to conduct Actuarial Valuation.

The state government is “yet to open Retirement Benefits Bond Redemption Fund Account, yet to commence funding of Accrued Pension Rights and has “no Group Life Insurance Policy”.

In Ebonyi State, the government “enacted Law on CPS in 2017 (amended the Law and forwarded to the Commission and the Commission communicated its observations on the Law to the State)”.

The State is “yet to establish Pension Bureau; yet to register Employees with PFAs; yet to commence remittance of Pension Contributions; yet to conduct Actuarial Valuation; yet to open Retirement Benefits Bond Redemption Fund Account; yet to commence funding of Accrued Pension Rights” and has “no Group Life Insurance Policy”.

The PenCom document shows that Enugu State government “enacted Law on CPS in 2014; yet to establish Pension Bureau; yet to register State Employees; yet to commence remittance of Pension Contributions; yet to conduct Actuarial Valuation; yet to open Retirement Benefits Bond Redemption Fund Account; yet to commence funding of Accrued Pension Rights” and has “no Group Life Insurance Policy”.

The Imo State government, from the PenCom record “enacted Law on CPS in 2008; yet to establish Pension Bureau; yet to register Employees with PFAs; yet to commence remittance of Pension Contributions; yet to conduct Actuarial Valuation; yet to open Retirement Benefits Bond Redemption Fund Account; yet to commence funding of Accrued Pension Rights”, and has “no Group Life Insurance Policy”.

Analysts say if the trend is not reserved and the five South-East State governments do the needful by implementing the CPS, workers on their retirement may face difficult times as they may not be able access their retirement benefits.

https://www.sunnewsonline.com/exclusive-employees-of-5-south-east-states-govt-may-lose-retirement-benefits/


Lalasticlala

Fake news from the Lagos Ibadan expressway Brown envelope journalists

Employees of state government in the five South-East zone of Nigeria may be in for hard times after retirement because their respective state governments have not implemented fully the Contributory Pension Scheme (CPS).

People can't really understand why we blame Tinubu on lack of development in SE states.. This is one of the thing.

The 5 SE state governors consulted Tinubu on how to implement the Contributory Pension Scheme but he rejected the proposal bluntly.

Now see the aftermath...Tinubu, our land is in your hand, please approve the proposal so that the employees of SE state could have some future savings.

Fahdiga:
Fake news from the Lagos Ibadan expressway Brown envelope journalists

You dey mind them, even if the 5 SE governors have no plans for the pension scheme, what's the business of Lagos Ibadan expressway journalists

Monogamy:




People can't really understand why we blame Tinubu on lack of development in SE states.. This is one of the thing.

The 5 SE state governors consulted Tinubu on how to implement the Contributory Pension Scheme but he rejected the proposal bluntly.

Now see the aftermath...Tinubu, our land is in your hand, please approve the proposal so that the employees of SE state could have some future savings.

Mental patient

ewedu amala junk afonja Lagos Ibadan expressway brown envelope media

Fahdiga:
Fake news from the Lagos Ibadan expressway Brown envelope journalists

Your Governors are going to deny your people their pensions because they failed to do the right thing, instead of you and your likes to hold them accountable, you are always found masturbating on Southwest issue.

South Westerners hold their Governors responsible when things like this happen but ethnic bigots like you will ignore issues that concern your region and poke nose in other regions.

The news of Uzondima calling the Military on your people is also news from South West media.

Adagba je Raufu

if this is true then NLC is a toothless union and d governors are wicked characters

Monogamy:


You dey mind them, even if the 5 SE governors have no plans for the pension scheme, what's the business of Lagos Ibadan expressway journalists

what then are you doing in nairaland? A forum own by Lagos ibadan express. You hate to talk about your problems but you will the first to comment on another region problems. If you are a government you wouldn't have said this rubbish, considering the danger ahead. Do you know what will happen to a sixty five (65) year old man that have no pension and no strength to work. Is that your wish for your father?

Miracle1991:
what then are you doing in nairaland? A forum own by Lagos ibadan express. You hate to talk about your problems but you will the first to comment on another region problems. If you are a government you wouldn't have said this rubbish, considering the danger ahead. Do you know what will happen to a sixty five (65) year old man that have no pension and no strength to work. Is that your wish for your father?

Why should Lagos Ibadan expressway journalists be pokenosing into SE affairs? If the people have made up their mind for the development in their region to remain same, why giving themselves an headache in reporting this

While poor Osun state paid theirs eekwa?

Most States deducts contributory Pension from worker's salary without remitting to appropriate PFAs.

Ogun State is one of them and not only SE States. Gbenga Daniel experimented with the idea of utilizing the deductions for State use and Ibikunle Amosun took took it a notch higher. Dapo Abiodun is not doing anything different.

Just same of the same