Low Participation Of States In CPS, Worrisome, PenCom DG
By allcitynews.ng The Director General of apex pension monitoring body, National Pension Commission (PenCom) has expressed worry over the unwillingness of states to come under the umbrella of Contributory Pension Scheme (CPS). Worried that only seven states are under the umbrella of the scheme despite all efforts to pull all states into the fold, the DG, Omolola Oloworaran, described the low participation as worrisome. The DG lamented that despite the efforts put in place to simplify the scheme to enable all workers join, only seven states out of 36 states have joined. PenCom made the disclosure during the maiden edition of its bi-annual consultative session for Heads of Service of states yet to fully adopt or implement the scheme. According to the commission, the meeting was convened to deepen pension reforms at the sub-national level and address challenges hindering full compliance with the CPS framework. Under the CPS, both employers and e...