Despite the requirement in the Pension Reform Act of 2014, thirty-one states of the federation have no insurance coverage in place for workers as of March 2021.

The figures acquired from PenCom’s ‘Status of implementation of the CPS in states as at March 2021’ indicated that just five states including the Federal Capital Territory had an insurance cover for its employees. The states in accordance with PenCom’s provisions with pension plans for their workers are Lagos, Osun, Ondo, and Edo.

Lagos State
Lagos passed a CPS law in 2007, revised several aspects of the main law in 2019, and established a Pension Bureau. Lagos has also registered its employees with PFAs and makes regular remittances of 10% employer and 8% employee pension contributions. An actuarial valuation was performed, as well as funding the employees’ accrued pension rights, however, there are arrears. Lagos recently established Retirement Benefits Bond Redemption Fund Account with two PFAs for State and Local Governments.

Osun State
Osun State passed a CPS law in 2008 and has a legitimate Group Life Insurance Policy. Accounts for Retirement Benefits Bond Redemption Funds have been opened with the established two Pension Bureaus (State & Local Governments). Osun has registered its employees with PFAs and is remitting 7.5% employer and 7.5% employee pension contribution for state personnel. However, from May 2019 to July 2020, there is a backlog of pension contributions and Osun State has insufficient funding of Accrued Pension Rights. The state has a backlog of unremitted pension contributions as well as massive arrears of payments.

Ondo State
Ondo State enacted a CPS law in 2014. It has a legitimate Group Life Insurance Policy, and has formed a Pension Bureau. Ondo also registered its employees with PFAs and remitted 10% employer and 8% employee pension contributions till January 2021. Employees covered by the CPS do not have Accrued Pension Rights in Ondo state, hence there is no Actuarial Valuation.

What this means
The lack of insurance demonstrates that when the private sector ignores group life insurance, it is basically following in the footsteps of state governments. Normally, state governments would be expected to uphold laws, but their actions have demonstrated a disregard for the law and its workers.

Furthermore, insurance benefits are not just for the employees but also the management, that is, the government. It is to ensure that the families of those who work with them are safe regardless of what happens.

https://nairametrics.com/2021/06/20/31-states-do-not-have-insurance-coverage-for-workers-pencom/

As usual, everyone knows which states should be in the list and which don't even understand the meaning of insurance coverage.

All they do is shouting Buhari and Tinubu up and down.

If any state has, I am just seeing this allegation for the first time.

I blame Buhari

The ones that have, how effective are they?

Simplyleo:
As usual, everyone knows which states should be in the list and which don't even understand the meaning of insurance coverage.

All they do is shouting Buhari and Tinubu up and down.

Lagos/Ibadan propaganda
https://www.pencom.gov.ng/south-east-zonal-office/

post=102920969:

Lagos/Ibadan propaganda
https://www.pencom.gov.ng/south-east-zonal-office/

Read before you write...Insurance Coverage of workers is the message here, not Pension Coverage

What u mean no biafra state??
We d fufu people no go gree woo
Diz must b ibadon propergander

Simplyleo:
As usual, everyone knows which states should be in the list and which don't even understand the meaning of insurance coverage.

All they do is shouting Buhari and Tinubu up and down.

EKPA!!!