The National Pension Commission (PenCom) has Reaffirms Commitment Towards ensuring optimum Implementation of the Contributory Pension Scheme Across States and other Private Agencies.
The Director General of Pencon Ms Omolola Oloworaran disclosed this during the first run of the 2025 Consultative Forum for States and the Federal Capital Territory (FCT), taking place in Kano.
She said the objectives of the meeting was to bring together stakeholders to discuss progress and challenges in implementing the Contributory Pension Scheme (CPS).
Ms Omola Olowararan highlighted several key milestones, including the approval of a ₦758 billion Federal Government bond to Settle N253 billion accrued pension rights for retirees of Treasury-funded MDAs.
She noted that other Achievements include Clearing of ₦388 billion in unpaid pension increases dating back to 2007,while ₦107 billion was injected into the Pension Protection Fund.
“However, despite progress, only eight states are fully implementing the CPS, with 25 states and the FCT having enacted CPS laws.”
“To ease adoption, PenCom is offering a flexible approach, allowing states to begin implementation with new employees or those with less than ten years of service. This aims to reduce accrued rights burden on states and facilitate a smoother transition.”
The Director-General urged participants to leverage the forum to exchange ideas, share experiences, and co-create solutions to advance the pension reform agenda. She emphasized the Commission’s commitment to building a secure retirement system for all Nigerians.
The Head of Civil Service of Kano State,Alhaji Abdullahi Musa commended PenCom for its leadership in guiding subnational governments towards transparency, accountability, and sustainability in pension administration.
He highlighted Kano State’s adoption of a hybrid pension system, blending the Defined Benefits (DB) and Contributory Pension Scheme (CPS) models, as a pragmatic approach to addressing the state’s socio-economic realities.
Dr Bilyaminu Aminu Executive Secretary Jigawa State Local government pension Contributory Scheme and Hajia Mariam Ozioma Abeda Director General Kogi State Pension Commission said the meeting will play a vital role in fine tuning modalities of enhancing full implementation of the Contributory Pension Scheme Across the Nation.
The stakeholders meeting attracted participants from all parts of the federation.
Abdullahi Jalaluddeen Kano
