PenCom introduces monitoring platform and consultative sessions to enforce contributory pension compliance

The National Pension Commission (PenCom) has ramped up efforts to enforce nationwide compliance with the Contributory Pension Scheme (CPS) by introducing a dedicated monitoring platform aimed at defaulting state governments.    PenCom inaugurated the first Bi-Annual Consultative Session for Heads of Service from states yet to fully adopt or implement the CPS. The move forms part of a broader strategy to advance pension reforms at the state level and ensure long-term retirement security for public servants across Nigeria.     The session, designed for high-level dialogue and experience-sharing, had the Head of the Civil Service of the Federation, Didi Walson-Jack, as Special Guest of Honour. Her participation highlighted the Federal Government’s push for harmonised pension practices across all tiers of government.     In her address, PenCom Director-General Omolola Oloworaran voiced serious concern about the sluggish implementation of the scheme at the sub-national level. “This initiative represents a continued and deliberate effort by PenCom to bridge the implementation gap at the sub-national level,” she said. “Our goal is to collaborate closely with state governments to build a robust, transparent, and highly sustainable pension system that guarantees the welfare of workers upon retirement.”    Oloworaran added that the consultative framework offers practical support to help lagging states overcome transition hurdles, appreciate the fiscal advantages of the CPS, and resolve persistent obstacles to full adoption.    Statistics shared during the meeting painted a concerning picture: Although 26 states have passed pension reform laws, only seven states plus the Federal Capital Territory are fully implementing the CPS. This leaves 29 states either partially implementing the scheme or yet to activate their laws.    Participants acknowledged that technical and political challenges have slowed progress. They stressed the need for stronger political commitment, targeted technical assistance from PenCom, and ongoing collaboration with labour unions to accelerate implementation.    Discussions centred on key issues such as settling backlogs of accrued pension rights and smoothly shifting from the unsustainable old Defined Benefit Scheme to the CPS.    PenCom expressed confidence that the new bi-annual platform will encourage more states to move beyond legislation to actual compliance, ultimately shielding state workers from poverty in old age.    

PenCom launches a new monitoring platform to ensure states comply with the Contributory Pension Scheme, addressing implementation gaps and securing workers Read More: https://punchng.com/pencom-unveils-monitoring-platform-for-defaulting-states/