PenCom visits Nasarawa State on Contributory Pension Scheme (CPS) – PensionNigeria

PenCom visits Nasarawa State on Contributory Pension Scheme (CPS)

The National Pension Commission (PenCom) has disclosed that it visited the Nasarawa State government in its effort to ensure that the state key into the Contributory Pension Scheme (CPS). The PenCom officials were hosted by the Deputy Governor of Nasarawa State, Dr. Emmanuel Agbadu Akabe.

Nasarawa State is one of the states that have not fully implemented the Contributory Pension Scheme (CPS). Below is the status of implementation of the CPS in Nasarawa State as at December 2020.

Nasarawa State Status of Implementation of CPS as at December 2020

  • Enacted Law on CPS in 2009 (currently in the process of amending its law to commence CPS implementation).
  • Recently constituted Nasarawa State House of Assembly Ad hoc Committee on Pension Review.
  • Yet to establish Pension Bureau.
  • Yet to register Employees with PFAs.
  • Yet to conduct Actuarial Valuation.
  • Yet to open Retirement Benefits Bond Redemption Fund Account.
  • Yet to commence funding of Accrued Pension Rights.
  • No Group Life Insurance Policy.

We hope that the visit will speed up the implementation of the CPS in Nasarawa State.

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