Key into PenCom and Avoid Pension Liabilities, DG Advises North-eastern States

Segun Awofadejo in Gombe

The six states of the North-east sub-region have been advised to ensure prompt implementation of the Contributory Pension Scheme (CPS) in order to provide economic support and prevent future liabilities of their employees.

The Director-General of the National Pension Commission (NPC), Mrs. Chinelo Anohu Amazu gave the advice yesterday in Gombe during a sensitisation conference and official unveiling of the Northeast Zonal Office of the Commission.

According to her, through the pension funds, services, and investment across financial and real sectors of the Nigerian economy, individuals and all Nigerian workers should be encouraged to develop saving culture for their economic improvement to also better th0eir livelihoods, reduce poverty and other social vices.

She said, “The need for efficiency in managing finances can never be greater than now as a result of the lean resources of the federal government occasioned by fall in global oil prices and the attendant revenue decline; the adoption of the Contributory Pension Scheme by states would serve as one effective tool for managing finances through regular monthly pension contributions.”

Amazu stated further that PenCom is mindful of the recent challenges experienced by the Northeast states as a result of insecurity which has affected development; hence the need to work towards reviving the economy.

She said the Scheme in its two years of its implementation, many achievements have been made including enactment of Pension Law, its full implementation in about 10 states, registration of 7.13 million active contributors including the successful generation of whole of invest-able funds of over N5.7 trillion, which has been invested across Nigerian economy.

Gombe State Governor, Ibrahim Hassan Dankwambo who earlier unveiled the PenCom Northeast office, reiterated the commitment of his administration to further implement the Contributory Pension Scheme for the betterment of workers and retirees in the state.