National Pension Commission, PenCom, weekend, said
the Contributory Pension Scheme, CPS, had generated
over N3.5 trillion with no fewer than 5.61 million
workers now in the scheme.
Acting Director-General of PenCom, Mrs. Chinelo
Anohu-Amazu, announced this at the commissioning
of the South-West zonal office of the commission in
Lagos.
Governors Babatunde Fashola of Lagos State; Ibikunle
Amosun of Ogun and Kayode Fayemi of Ekiti stat;
Senate President, Mr. David Mark, represented by the
Chairman, Senate committee on Establishment and
Pension, Senator Aloysius Etok, Senator Gbenga Ashafa
and Babafemi Ojudu, Vice Chairman of the House
Committee on Establishment and Pension, Mr. Samson
Okwu and other dignitaries.
According to her, the commission had “over N3.50
trillion invested in various financial instruments in the
country. As at June 2013, the value of pension funds’
investment in state government bonds was N169.73
billion.
“Most of the states have utilised the proceeds from the
fund towards the provision of vital infrastructure for
the well being of its citizens.
“Since inception, 5.61 million workers have been
registered into the new scheme.
“States in the country, especially the South-West zone,
that are yet to complete the necessary process of full
implementation of CPS, should renew their
commitment and fast track action on all outstanding
issues to avail their employees of all the benefits
attached to the new scheme.”
Governor Fashola, others react
Governor Fashola urged the National Assembly to deal
expeditiously with the Pension Reforms Act 2004,
which had been returned to Parliament for re-
examination, saying “we continuously have to reflect
and rethink and that is why the bill is back in
Parliament.”
Similarly, Governor Amosun noted that the
responsibility of every government was to encourage
its workers to realise the dignity in labour adding “his
administration has demonstrated in many ways that
the government is concerned about the welfare of its
workforce.”
On his part, Governor Fayemi said his government was
willing to adhere to the enabling rules and regulations
set out by the Pension Reform Act 2004.
Ondo State Head of Service, Mr. Toyin Akikuotu,
applauded the commission for decentralising the
administration of pension in the country.
the Contributory Pension Scheme, CPS, had generated
over N3.5 trillion with no fewer than 5.61 million
workers now in the scheme.
Acting Director-General of PenCom, Mrs. Chinelo
Anohu-Amazu, announced this at the commissioning
of the South-West zonal office of the commission in
Lagos.
Governors Babatunde Fashola of Lagos State; Ibikunle
Amosun of Ogun and Kayode Fayemi of Ekiti stat;
Senate President, Mr. David Mark, represented by the
Chairman, Senate committee on Establishment and
Pension, Senator Aloysius Etok, Senator Gbenga Ashafa
and Babafemi Ojudu, Vice Chairman of the House
Committee on Establishment and Pension, Mr. Samson
Okwu and other dignitaries.
According to her, the commission had “over N3.50
trillion invested in various financial instruments in the
country. As at June 2013, the value of pension funds’
investment in state government bonds was N169.73
billion.
“Most of the states have utilised the proceeds from the
fund towards the provision of vital infrastructure for
the well being of its citizens.
“Since inception, 5.61 million workers have been
registered into the new scheme.
“States in the country, especially the South-West zone,
that are yet to complete the necessary process of full
implementation of CPS, should renew their
commitment and fast track action on all outstanding
issues to avail their employees of all the benefits
attached to the new scheme.”
Governor Fashola, others react
Governor Fashola urged the National Assembly to deal
expeditiously with the Pension Reforms Act 2004,
which had been returned to Parliament for re-
examination, saying “we continuously have to reflect
and rethink and that is why the bill is back in
Parliament.”
Similarly, Governor Amosun noted that the
responsibility of every government was to encourage
its workers to realise the dignity in labour adding “his
administration has demonstrated in many ways that
the government is concerned about the welfare of its
workforce.”
On his part, Governor Fayemi said his government was
willing to adhere to the enabling rules and regulations
set out by the Pension Reform Act 2004.
Ondo State Head of Service, Mr. Toyin Akikuotu,
applauded the commission for decentralising the
administration of pension in the country.
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