The Nation Newspaper

Category: Pension

  • AXA Mansard, LASPARK partner on green Lagos

    Insurance giant AXA Mansard  has announced its partnership with the Lagos State Government as the state prepares to conduct the 2019 Tree Planting Exercise.

    A statement by the firm stated that the Lagos State Parks and Gardens Agency, LASPARK 2019 Tree Planting exercise will hold on  July 14, 2019 with the theme: “Clean and green is our perfect dream”.

    The event is billed to hold across all the 20 Local Government Areas (LGAs) and 37 Local Council Development Areas (LCDAs) in the state.

    AXA Mansard Chief Strategy and Marketing Officer, Mr Kola Oni said insurance companies are in a privileged position to enhance knowledge on climate risks in order to better understand and tackle climate change.

    The statement said: “AXA Mansard is also aware of the role it can play in promoting environmental protection awareness amongst its stakeholders, contributing to improving the understanding of global and local environmental risks, and committing to addressing climate change.

    “The Lagos State Government in 2012, committed to an internationally recognised tree planting programme to plant 10 million trees by 2020. This commitment is based on the fact that tree planting remains one of the most effective ways of absorbing greenhouse gases such as carbon dioxide and methane that are harmful to the environment from the atmosphere. The Initiative is therefore aimed at improving environmental sustainability in Nigeria.

    “As both a responsible insurer and an environmentally responsible corporation, AXA Mansard has a responsibility to leverage its expertise and take action to reduce climate risks; supporting this initiative will enable us perform this responsibility successfully.”

    LASPARK General Manager, Mrs Bilikiss Adebiyi-Abiola noted that the exercise is a universally progressive idea to integrate private bodies into government policies and programmes in order to achieve a broad and enduring legacy, adding that tree is a significant accessory to mental and physical comfort.

  • Pension defaulting employers pay N7.54b penalties

    • PenCom transfers N29.10 million for 442 NSITF members

    A total of N7.54 billion has been paid as penalties by employers who fail to remit pension deducted from their employees under the Contributory Pension Scheme (CPS) as at March, 2019.

    This is apart from principal contributions of N8.22 billion of the employer portion of the contribution.

    The Pension Reform Act 2014 mandates employer’s contributions of 10 per cent and employee contribution of eight per cent of the total monthly emolument of the worker, thus putting the total contribution at 18 per cent.

    In an Update on the Recovery of Outstanding Pension Contributions and Interest Penalty from Defaulting Employers 2019 First Quarter Report, the National Pension Commission (PenCom) stated that the commission maintained the services of Recovery Agents (RAs) for the recovery of outstanding pension contributions and penalty for defaulting employers.

    The RAs, according to the commission, were mandated to review the pension records of the employers assigned with a view to recovering outstanding pension contributions with penalty.

    The report read: “During the quarter, demand notices were issued to 23 defaulting employers whose pension liabilities had been established by the RAs, which resulted in the remittance of outstanding pension contributions of N399.76 million, representing principal contributions of N343.72 million and penalty of N56.04 million.

    “Accordingly, total recoveries made from inception to date amounted to N15.76 billion, comprising principal contributions of N8.22 billion and penalty N7.54 billion. These amounts have since been credited to the respective RSAs of the employees.”

    On the ongoing transfer of Nigeria Social Insurance Trust Fund (NSITF) Contributions to Retirement Savings Account (RSAs) during the quarter under review, the commission said it received 64 batches of NSITF transfer applications totaling N29.10 million on behalf of 442 NSITF members. A

    “All the applications were processed and the 442 members’ contributions transferred to their RSAs. From inception to date, the sum of N9.91 billion has been transferred into the RSAs of 137,939 NSITF contributors.”

    In the same vein, the commission processed monthly pension payments of N55.64 million in respect of 3,231 NSITF pensioners.

    “From inception to date the total pension payments to NSITF pensioners amount to N4.42 billion. Also during the first quarter, 2019, the Commission processed monthly pension payments of N55.64 million in respect of 3,231 NSITF pensioners. From inception to date the total pension payments to NSITF pensioners amounted to N4.42 billion”, PenCom added.

     

  • Pension complaints and solutions

    SHOSOWEN: My name is Shosowen and my Pension Fund Administrator (PFA) is Stanbic IBTC Pension Managers. I retired on September 28, 2008. My complaint is that I am being paid less than I should be paid. Shortly before I retired, I visited my pension managers to update my records. However, on returning, I got a letter of promotion from CONTISS 11 to CONTISS 12/06. I sent the updates to my pension managers immediately before I retired, but it has not been effected. Currently, I am still being paid on CONTISS 11 grade level. I trust God to use you to help me wade into the matter so it can be resolved.

    STANBIC IBTC PENSION OKONKWO: Please be informed that Mr Shosowen is a retiree on our records who is currently on our monthly pension payroll. We would like to clarify that the computation of lump sum  and programmed withdrawal amount paid to retirees is not based on grade level but on the standard programmed withdrawal template/model (PWT) issued by the National Pension Commission (PenCom) in line with the provisions of the Pension Reform Act (PRA) 2014. The variables for calculating LS and PW include the Retiree’s retirement savings account (RSA) balance, age at retirement, gender and last annual total emolument as captured on the client’s pay slip. We have tried to contact him on his phone number (as registered on our records) but it is switched off. He is required to provide us with his redemption of retirement bond letter to enable us ascertain the grade level used for the computation of his benefits and to liaise with the appropriate authority where a shortfall is observed. Kindly advise us with his contact details (if different from the above) to enable us provide further clarification.

    ABDULSALAM: My name is Abdulsalam, a staff of Yaba LCDA. I have been with Stanbic IBTC Pension since its inception. But just this month, my pension fund was transferred to Leadway Pensure without my authorisation. Please what can I do because I want Stanbic as my pension manager.

    STANBIC IBTC PENSION: Please note that the policy of the National Pension Commission (PenCom) on multiple registrations is the ‘First PIN’ rule which recognises the first RSA PIN generated for a client as the valid one to be maintained. Based on this, Mr Abdulsalam’s first PIN as confirmed by PenCom is the PIN registered with Leadway Pensure. Therefore, his RSA PIN with us was invalidated and the funds transferred to his valid Pension Fund Administrator in January 2019. Kindly note that Mr Abdulsalam was informed of his valid RSA PIN with Leadway via a letter dated October 10, 2018.  We advise that he provides his Leadway PIN to his employer to ensure his RSA is credited timely. However, he can choose to transfer back to us once the transfer window is opened by PenCom. Do note that we also called him today to provide further clarification but our calls were unpicked. We would try again before close of business.

    STEVEN: I am a retired teacher from Ifako International School. I was receiving N24,684.76 pension but since year 2003 nothing has been given to me. My Pension  number  is Anonymous. I will be happy if you can help and see that the money is paid. I also worked at Barachel Model College.

    THE NATION: The Nation will intervene by sending your complaint to PTAD. Do watch out for the newspaper publication next Wednesday for a response from the commission and subsequently every week for pension news.

    ALICE: My name is Alice Olufumilayo Fadipe. Welldone and thanks for The Nation’s concern on pensioners matters.

    My pensioner number is Anonymous. I did verification since August 2017 but PTAD has not paid me till date. Kindly assist, several pensioners have gotten their pension. I am a state pensioner with federal share. I retired on April 30, 2008 without payment till date. Thank you.

    THE NATION: The Nation will intervene by sending your complaint to PTAD. Do watch out for the newspaper publication next Wednesday for a response from the commission and subsequently every week for pension news.

    JOSHUA: Dear Omobola, my name is Joshua. I retired as a Seargent on grade level 05 step 4. My date of first appointment January 20, 1986 and date of retirement is march 1, 1997. I have done verification in Abuja. Please I am in penury and pray you to tell pension boss to pay my pension. I am helplessly living a tortous life.

    THE NATION: The Nation will intervene by sending your complaint to PTAD. Do watch out for the newspaper publication next Wednesday for a response from the commission and subsequently every week for pension news.

    ONIYE: God bless The Nations Pension Column. My name is Mrs. Oniye. I retired from Federal Government College, Idoani in April,1999, as Grade 2 Typist, G.L 5 Step 10. My gratuity was paid on June 7, 2007. I never received any monthly pension. Please see to my problem by helping me to contact the Pension Transitional Arrangement Directorate (PTAD) on non-payment of my monthly pension since 1999.

    THE NATION: The Nation will intervene by sending your complaint to PTAD. Do watch out for the newspaper publication next Wednesday for a response from the commission and subsequently every week for pension news.

  • Mutual Benefits’ underwriting income hits N13.9b

    Mutual Benefits Assurance Plc. has recorded a net underwriting income of N13.9 billion for the year ended December 31, 2018, representing a 19 per cent increase from the N11.77 billion recorded in 2017 by the group.

    According to the result of its audited account released on the floor of the Nigerian Stock Exchange (NSE), the Company’s gross premium written also grew by 13 per cent from N14.03 billion in 2017 to N15.84 billion in the year under review. Net premium income stood at   N13.47 billion representing an 18 per cent increase from N11.46 billion in 2017, while profit after income tax stood at N1.149 billion; a 12% increase from 2017 figure of N1.02 billion.

    The 70 per cent percent increase in claims paid over the 2017 figures impacted the company’s underwriting profit which dipped by 17 per cent to N3.05 billion.

    The company paid claims amounting to N3 billion in the period under review. Motor claims were the highest, amounting to N1.10 billion, followed by Fire which was N664 million, General Accident N330 million while Aviation risks attracted N441.90 million. Claims paid on other classes of business include Engineering N166 million; Oil and Gas risks N108.90 million and Marine N241.60 million.

    Managing Director, Mutual Benefits Assurance, Segun Omosehin said the claims paid shows their commitment to meeting our obligations to our esteemed customers.”

    According to him, the company has put in place systems and processes to ensure efficient claims service delivery.

    He said: “We are committed to prompt settlement of all genuine claims, as this aligns with our mission statement of “Transcending the expectations of our customers for the satisfaction of their wealth protection needs through the provision of qualitative insurance and risk management services thereby creating values for all stakeholders.

    “The year 2019 is the third year of our five-year strategy plan and we have made remarkable progress.  Our IT transformation will soon be completed which will take our service delivery level to greater heights with innovative customer centric solutions”, he noted.

  • ‘PenCom makes great strides in 16 years’

    The National Pension Commission (PenCom) has recorded tremendous achievements in the last sixteen years, its Acting Director-General, Mrs Aisha Dahir, has said.

    She spoke at the pre-retirement workshop for Federal Government (FGN) workers due to disengage in 2020 under the Contributory Pension Scheme (CPS).

    According to her,  the achievement would not have been possible without the support and understanding of all stakeholders, especially the contributors, who are about to retire.

    The workshop, organised for intending retirees in  2020 under the CPS, she said, was very important, adding that the commission considers contributors who are about to join the CPS retirees as very important stakeholders, hence the need for the sensitization workshop.

    According to her, the objectives of the Pension Reform Act (PRA 2014) are to ensure that every person who worked in either the public service of the Federation, Federal Capital Territory, states and local governments, or the private sector receives his retirement benefits as and when due. The objectives include establishing uniform set of rules, regulations and standards for all aspects of pension administration, and payment of retirement benefits to retirees, among others.

    Read Also: Pension complaints and solutions

    She said: “As part of our annual regulatory activities, the Commission has commenced the verification of prospective retirees, who will be retiring in the year 2020 from the public service of the Federation. The verification exercise is scheduled to hold from July 1 to August 2, 2019 in 15 centers across the country. The exercise, therefore, necessitated the need to undertake adequate sensitisation and public enlightenment in order to prepare prospective retirees on the steps to take towards a hitch free retirement life.

    “The intending retirees will be sensitised in three arears, which include enrolment exercise and documentation requirements, accessing retirement under the CPS and life in retirement. It is our hope that the workshop would inform them on what they need to know on documentation requirements, payment of retirement benefits and best ways to enjoy life in retirement.”

    In the commission’s pension summary report, she disclosed that pension assets have grown to N9.03 trillion as at March 2019. The assets gained N117 billion between February and March this year, even as N6.51 trillion of the assets was invested in Federal Government of Nigeria securities.

    She noted that the CPS implementation has greatly impacted the economy, stressing that the major visible areas of this impact are the economic and social spheres and that the pension assets, are slowly but surely changing Nigeria’s financial landscape and by extension, the course and pace of our socio-economic development.

  • Pension complaints and solutions

    Suleiman: I retired on level 14 step 10 in June 1996 and was last paid N59400 monthly in March 2018. In August that year I did a new verification at PTAD Abuja, only to be paid N43200 monthly thereafter. They said I was being overpaid. Please is there any table for calculating pension?

    PTAD: We could not reach the pensioner to get his details because no phone number was provided. We advise that he forwards a copy of his verification slip, including his complaint, to complaints@ptad.gov.ng to enable us investigate and resolve the matter.

    ABDULSALAM: My name is Abdulsalam, a staff of Yaba LCDA. I have been with Stanbic IBTC PFA since its inception. But just this month my pension fund was transferred to Leadway PFA without my authorisation. Please what can I do because I want Stanbic IBTC as pension manager?

    STANBIC IBTC: Further to our response below, please note that in line with the first PIN rule, as stipulated by the National Pension Commission (PenCom), the first Retirement Savings Account (RSA) Personal Identification Number (PIN) obtained by an RSA holder should be maintained. Based on the above, the first PIN generated for Mr. Abdulsalam by PenCom is with LeadWay Pension while ours is the second PIN. Consequently, his contributions were transferred  to his valid Pin with LeadWay as approved by PenCom while his second and invalid PIN was invalidated on our records. Please note that Mr. Abdulsalam can choose to transfer back to us once the Transfer Window is declared open by PenCom.

    ABDULLAHI: My name is Abdullahi and my PFA is Trustfund. I have retired since 2014 and I have done my biodata in August 2018. I later went to my PFA to request for my 25 per cent of my total savings, but I was told that PenCom did not send money for MDA. I am seriously in need of money because my children’s school fees is becoming a problem.

    TRUSTFUND: Thank you as always. But we need this customer’s Personal Identification Number (PIN) to be able to act on this.

    MACAULAY: Dear Omobola, my name is Macaulay. I will be happy if The Nation can bail me out. Some people have been calling me saying that they are PTAD staff in charge of my pension. They have duped me and collected N400,000 from me, claiming my file is on the last stage. I am a poor Federal retiree. I retired from Federal Ministry of Agriculture on grade level 13. Step 6. I retired in May 1994. The trouble with my pension is that there was an increase in the payment that made my pension N30, 000 and another N22, 000. Instead of paying in one voucher it was paid separately and suddenly the N22, 000 was stopped. I complained and with the help of a colleague in Abuja. The error was corrected and arrears were paid in February 2014. By March again, the same year, my pension came back to N30, 000. Later there was an increase of 33 per cent and that makes N50, 258.20. This is what I have been receiving since. The N22, 000 is a forgotten issue. This is where those in the PTAD have been milking me up to the tune N400, 000. They will tell me I should send money for the process. By now my monthly pension should be up to N80, 000, but I am receiving N50, 258.20. The first person to collect money from me was one Rosemary. Others are Mrs Zainab Usman, John Ose, Dr. Rose Ndom, Mrs Uwakwe, John Okafor and Collins  Udoko, who says is the HOD. I have their phone numbers and the agents they use, their names and account numbers and banks are with me. When the situation demands, I can forward them. Madam, God Almighty will surely reward you. I celebrated my 80th birthday in 2016. When do I enjoy my labour? Thanks.  Hope to hear from you soonest.

    PTAD: The pensioner has been contacted. We have asked him to scan and send a copy of his verification slip to enable us investigate his complaint.

    ABIDEMI: My name is Abi demi. I want to inform you that my pension issues have been resolved and I have been paid by Crusader Pension. I thank The Nation and PenCom for their intervention.

    The Nation is happy that your pension issues have been resolved. Do watch out for the newspaper every Wednesday for pension news.

    Bayo: My name is Bayo. Please I will like to know when a person can start receiving monthly pension? My sister retired in 2007 after 18 years of service to the Federal Government. She was paid her gratuity. She is now 51, she was retired 12 years ago. When will she be qualified to receive monthly pension? Thank you for your attention.

    PTAD: We could not get through to the pensioner to get her details because no phone number was provided. We advise that the pensioner sends her complaint, name and account details to complaints@ptad.gov.ng or call any of these numbers for further clarifications: 080022557823, 094621700

    OJI: Hello sir/ma, my case is PenCom related. I retired from service in 2015 on GL 08, but was paid off on GL 07. The reason is that I got promoted in 2014, but the Customs failed to implement or effect the salary variation till September 2015, when I was to retire the following month. I was paid off on GL 07 instead of  GL 08 and I was heavily shortchanged. Kindly help me as it is affecting my monthly pension.

    PENCOM: Customs is a self-funded organisation, therefore, you should channel your complaints to Nigeria Customs Service to get the variation for your promotion. Your employer (NCS)will now compute the variation and remit same to your Retirement Savings Account (RSA).

    UDOCHI: I am Udochi and I am 47years old. I retired from Walvis Nigeria Limited in 2014. My PFA later paid me 25 per cent. I need your help because I am having a health issue and I have issues with my children school fees. Please if you can give me half of my money or all the money, that is with you, I will be happy so that I can take care of myself.

    PENCOM: Having collected 25 per cent, the remaining money will be paid to you as pension when you attain the age of 50.

     

  • PenOp asks RSA holders, retirees to recapture data

    Pension Fund Operators Association of Nigeria (PenOp) has called on contributors under the Contributory Pension Scheme (CPS) to go to their respective Pension Fund Administrators (PFAs) for data capturing.

    PenOp President, Mrs Ronke Adedeji, made this call during a press briefing with journalists in Lagos.

    Mrs. Adedeji, who is also the Managing Director of Leadway Pensure Limited, said the PFAs have intensified their efforts towards data recapturing with a view to achieving harmonised information of all Retirement Savings Account (RSA) holders.

    She said the ongoing data recapturing exercise is compulsory for all RSA holders. urging contributors not to wait for their PFAs to notify them, but should willingly approach their pension administrators for the recapturing exercise.

    She said the exercise will enable PFAs reconcile the previous information they have about their contributors to enhance credibility of the system.

    Mrs. Adedeji said the PFAs are reaching out to individual contributors to update their records, while they are falling back on Bank Verification Numbers (BVN) for those who already have data with banks.

    According to her, one of the benefits of data recapturing is to reconcile information of some pension contributors, who may have inadvertently registered with more than one PFA, thereby, having more than one PIN.

    The PFAs action, she noted, falls in line with the National Pension Commission (PenCom) directive that contributors and retirees under their management should be aligned with the National Identity Management Commission (NIMC) data base.

    She said: “People should go and update their data and should not wait for PFAs to come to them before they subject themselves to this exercise. The process has started. PFAs have invested so much into the project and operators are progressively approaching their customers to recapture their data.

    “In the meantime, because of the difficulty in rescheduling people, the time involved and the resources needed to do all that, PFAs are falling back on BVN available with the banks, while those without bank accounts will be reached individually.

    “The RSAs can go for the recapture anytime. For now, there is no deadline, since the exercise is just starting, but this may change in the future. There could be a deadline, depending on the response of pension contributors toward this exercise. The data recapturing exercise is in the interest of contributors as well as the pension industry and operators are eager to capture pension account holders as much as possible.

    “It is going to be a long and pain staking exercise. It is a very huge project and it has started and so people should not wait for their PFAs to come to them, but should walk into their PFAs to update their records,” she said.

  • Sanwo-Olu continues payment of accrued pension rights

    Lagos State Governor, Babajide Sanwo-Olu has continued with the payment of accrued pension rights as he presented Retirement Benefit Bond Certificates valued at N821.56 million to retirees.

    Lagos State Pension Commission (LASPEC) Director-General Mrs Folasade Onanuga, who spoke at the 63rd Retirement Benefit Bond Presentation to retirees in Ikeja, Lagos, assured the retirees that the government’s interest in the well being of retirees was paramount.

    She reiterated that  Sanwo-Olu is an establishment person having served previously in many capacities in the state and was once the commissioner for Establishments and Pensions.

    Read Also: Lagosians urged to support Sanwo-Olu

    She spoke on the  benefit options available under the Contributory Pension Scheme (CPS) dispensation and enjoined the beneficiaries to take very good care of their health, as well as desist from frivolous spending.

    One of the retirees, Mr. Abayomi from one of the local government areas of the state, thanked  the government on behalf of his fellow retirees for the continuity on payment of accrued rights.

  • Pension complaints and solutions

    EKELEME: My name is Ekeleme. I am registered with First Guarantee Pension. My complaint is that I have not got updates on my account since 2013. Their website is nothing to write home about. Please, what do I do? Ekeleme, University of Nigeria, Nsukka (UNN). Thanks

    THE NATION: The Nation will intervene by sending your complaint to PTAD. Do watch out for the newspaper publication next Wednesday for a response from the commission and subsequently every week for pension news.

    JOEL: I am a former employee of a Federal Government agency. I want to know if it is possible to change my PFA. I have been out of employment since 2013. I have over N2million as my contributory pension. I want to change my PFA because I am not satisfied with my PFA. Is it possible to move my pension fund? Thanks.

    PENCOM: Section 13 of the PRA 2014 allows an RSA holder to change his/her PFA not more than once yearly without giving any reason. The Commission is opening a transfer window to enable contributors’ move.

    ONYAKA: Sir, does First Pension Limited still ex-ist as Pension Fund Manager?

    PENCOM: Yes. They are known as First Guarantee Pension. Their  details are: Irorun Plaza, No. 65, Kudirat Abiola Way, Oregun, Ikeja, Lagos,http://www.firstguaranteepension.com

    TAYO What are the modalities of payment for those who joined the civil service in 2003 according to the Pension Act?

    PENCOM: Any employee who is entitled to retirement benefits under any pension scheme existing before June 25, 2004, being the commencement of the Pension Reform Act, 2004 falls under the Contributory Pension Scheme (CPS). You may liaise with your PFA who would advise you further on the modes of payment when you retire.

    LICY:  My name is Abdullahi. My PFA is Trustfund Pension. I retired since 2014 and I did my biodata last August. After that, I went to my PFA Trustfund to request for the 25 per cent of my total savings, but I was told that PenCom did not send it to the MDAs. I am seriously in need of money because my children school fees have become a problem. Please I need your quick respond. Thanks.

    PENCOM: The complainant  should send his PIN to us as soon as possible.

    ABDULSALAM: My name is Abdulsalam, a staff member of Yaba Local Governmnet Development Arrea (LCDA). I have been with Stanbic IBTC since its inception. But this month my pension fund was transferred to Leadway PFA without my authorisation. Please what can I do because I want Stanbic IBTC as my pension manager.

    PENCOM: Please tell Abdulsalam to send his PIN to expedite on his complaint.

    OLAYORI: Good day. My name is Olayori. I am a retiree of the National Assembly Commission, where worked as a legislative aide to a former senator. We left the National Assembly in 2011. Since then, I have been collecting pension of N7,872.87 monthly.

    However, last November, the payment stopped. My pension company is Iei-Anchor Pensions. It will be appreciated if you could assist to find out why the payment was stopped.

    PENCOM: We require your PIN  to assist you. please suppy it.

    ADIGUN: My name is Adigun. My PFA is First Guarantee.  I want to inform of the problems being faced by contributory pensioners in the Osun State Government employment who retired in 2016.

    None of them has received either gratuity or pension since they retired. The cause of the problem is not known as we were being fed with lies by various PFAs.

    Kindly advise us on the way out of this predicament.

    PENCOM: The relevant Department would require the PIN of the complainant to assist them further.

    IBRAHIM: My name is Ibrahim. I work with Nigeria Immigration Service, a DSI. My RSA initially was domiciled with the acquired Amana Pension Limited that was at Gwagwalada Para-military Board in 2009. Having registered with the Amana before it folded up, my pin was not given to me and I was left in the unknown for many years until IPPIS made me to understand that Sigma Pension acquired Amana Pension. I complained to Sigma. They advised me  register. After  that, I given the new pin number. They later called me and informed me of an old pin that Amana never gave to me.

    Sigma advised me to use the old pin. My complaint is: when IPPIS  paid my salary, my pension deduction from Sigma was updated based only on the deduction from the commencement of IPPIS without the previous balance from my RSA domiciled with Amana. Please I need your help.

    PENCOM: Ibrahim should send his PIN to us quickly. This will enable us attend to him.

  • PenCom: 15 states implementing CPS

    The number of states that have enacted laws on the Contributory Pension Scheme (CPS) rose in the first quarter of the year.

    This was made known in this year’s Quarterly Report of the National Pension Commission (PENCOM).

    The report showed that while 15 states have made progress in the implementation of the scheme, eight states have sent  bills for its enactment.

    A breakdown of the level of implementation of the CPS shows that Imo State is not remitting pension contributions, not funding accrued rights and has no group life insurance for its employees.

    In the same vein, Sokoto, Kogi, Bayelsa, Nasarawa, Oyo, Katsina, Akwa Ibom, Benue, Kwara, Plateau, Cross River, Abia, Ebonyi, Taraba, Bauchi, Borno, Gombe and Adamawa states are not remitting pension contributions, not funding accrued rights and has no group life insurance policy for its employees.

    Yobe State, on the other hand, is yet to commence the process of enacting a law on the scheme.

    Other states except the Federal Capital Territory (FCT) and Lagos  have no group life in place for their workers.

    The commission stated that Lagos is regular and up to date in the remittance of pension contributions and is funding the accrued rights of employees.

    Meanwhile, Jigawa State is remitting pension contributions to selected Pension Fund Administrators (PFAs), but implementing a Contributory Defined Benefits Scheme (CDBS). The state does not have group life insurance policy for its workers.

    The report read: “Ogun stopped remitting pension contributions with huge arrears of unremitted pension contributions, yet to commence funding of the accrued rights and yet to put in place Group Life Insurance policy. Kaduna has been regular and up to date remittance of pension contributions. Funding accrued pension rights consistently with five per cent of total monthly wage bill. Niger however stopped remitting pension contributions in 2015, not funding accrued rights. Delta is remitting complete and regular pension contributions for state employees, but remitting only employees’ portion for LG (local government) workers. The state funded accrued pension rights of both LG and state but with huge arrears of accrued pension liabilities.

    “Rivers is remitting only employee portion of pension contributions. The state has huge backlog of unremitted employer portion of pension contributions. The sum of N300 million was set aside with Premium Pensions in 2012 for the payment of accrued rights The FCT is regular and up to date in remittance of pension contributions for employees of the FCTA and Area Councils/LEAs. It is also funding accrued pension rights, with regular funding of accrued rights for FCTA and FCT Area Council and valid Group Life Insurance cover,” the report stated.

    The commission also inspected pension boards and bureaus.

    “The commission conducted the maiden inspection of the pension arrangements in Edo State and its agencies. The inspection was aimed at ascertaining the level of implementation of the CPS as well as the administration of the Defined Benefits Scheme (DBS) in the state. The Commission also conducted an inspection of the Pension Fund Administrator (PFA) branches operating in Edo State.

    “The inspection was to determine the extent to which staff of the PFAs were conversant with the provisions of the Edo State Contributory Pension Law and extant regulations and guidelines issued by the Commission, the level of compliance of the PFAs with the Commission’s circular on minimum requirement for opening of branches and service centers as well as the quality of services rendered to stakeholders.

    “The Commission conducted routine inspections of the FCT Pension Board and the FCT Area Council Staff Pension Board. The purpose of the inspections was to ascertain the level of implementation of the CPS as well as the administration of the DBS in the FCT and Area Councils,” according to the report.

    It said engagements with the state governments on the implementation of the CPS also continued.

    “The Commission continued its engagement with state governments on the implementation of the CPS. The Commission held series of meetings with the management and staff of Ondo State Pension Commission (OSPEC), the Committee on the Implementation of the CPS in Ondo State, the Management and Staff of the Ondo State Oil Producing Area Development Commission (OSOPADEC) as well as officials of the Ondo State Local Government Service Commission. The meeting was convened to discuss some of the challenges in the implementation of the CPS in the state.

    “The issues discussed include provision of Information Communications Technology (ICT) infrastructure, especially the deployment of appropriate applications by OSPEC, provision of Group Life Insurance Policy, capacity building for staff, non-conduct of Actuarial Valuation to determine the past service liabilities of the employees, non-creation and funding of the Retirement Benefits Bond Redemption Fund (RBBRF) Account, irregular deduction and remittance of pension contributions for employees of the state.The Commission held a meeting with the Technical Committee on Pension, Kano State. The meeting was convened to address the issue of non-remittance of pension contributions and inability of Kano State Pension Fund Trustees to pay retirement benefits as at when due,” the report stated.