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PenCom launches monitoring platform for states defaulting on Contributory Pension Scheme
via Punch Nigeria2 min read
The National Pension Commission PenCom has introduced a monitoring platform to enhance compliance with the Contributory Pension Scheme CPS among sub-national governments. This initiative includes the first Bi-Annual Consultative Session for Heads of Service from states that have not fully adopted or implemented the scheme. Didi Walson-Jack, Head of the Civil Service of the Federation, attended as a Special Guest of Honour, highlighting the federal government's commitment. Omolola Oloworaran, Director-General of PenCom, expressed concern over the slow pace of execution at the state level, stating that the goal is to collaborate with state governments to build a robust and sustainable pension system. The consultative framework aims to provide support to states facing transition challenges and to help them understand the fiscal benefits of the CPS. Data presented showed that 26 states have passed pension reform laws, but only seven states and the Federal Capital Territory are fully implementing the CPS, leaving 29 states lagging. Delegates acknowledged that technical and political limitations have hindered progress, emphasizing the need for stronger political will, targeted technical support from PenCom, and consistent engagement with organized labor to accelerate implementation.
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