Status of Implementation of CPS in States as at 30 June 2022

The National Pension Commission (PenCom) has released the status of implementation of Contributory Pension Scheme (CPS) in States as at 30 June 2022.

The report reveals that as at 30 June 2022, only twenty-four (24) States and the Federal Capital Territory (FCT) had enacted pension laws on the Contributory Pension Scheme (CPS), eight (8) States were still at the Bill stage and four (4) States have chosen to operate other pension schemes, out of which Jigawa and Kano have adopted Contributory Defined Benefit Scheme (CDBS) while Gombe and Zamfara States have laws on CDBS, but are yet to commence implementation.

See below a table showing the Summary of Implementation of CPS in States as at 30 June 2022.

Also see below the status of compliance per state with “Level of implementation” in BLUE and “Outstanding implementation milestone” in RED.

Benue State

  • Enacted Law on the CPS in May 2019.
  • Established a Pension Bureau.
  • Registration of Employees with the PFAs is ongoing.
  • State was remitting 10% employer Pension Contributions for employees of all the 23 Local Government Councils but stopped in October 2020.
  • Remitting 10% employer & 8% employee Pension Contributions for three (3) Tertiary Institutions.
  • Remitting 8% employees’ Pension Contributions for all other Ministries, Departments and Agencies (MDAs).
  • Yet to commence remittance of 10% employer pension contributions for all other MDAs.
  • Yet to conduct an Actuarial Valuation to determine the employees’ Accrued Pension Rights but the State has signed a contract with two Actuarial Firms to carry out the actuarial valuation for the State and Local Government employees.
  • Yet to open a Retirement Benefits Bond Redemption Fund Account.
  • Yet to commence funding of Accrued Pension Rights.
  • Yet to institute a Group Life Insurance Policy.
  • State has huge pension and gratuity liabilities under the DBS.

Federal Capital Territory (FCT)

  • Covered by the PRA 2014.
  • Established 2 Pension Bureaux (FCTA & Area Councils).
  • Registered the Employees with PFAs.
  • Remitting Pension Contributions (up to date remittance of pension contributions for employees of the FCTA and LEAs, but irregular for some Area Councils).
  • Rate of contribution is 10% employer and 8% employee
  • Conducted actuarial valuations to determine the employees’ Accrued Pension Rights.
  • Opened Retirement Benefits Bond Redemption Fund Account.
  • Regular funding of Accrued Pension Rights for both the FCTA and Area Councils.
  • Has a valid Group Life Insurance Policy.

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Kogi State

  • Enacted Law on the CPS in 2018.
  • Established a Pension Bureau.
  • Registering employees with PFAs.
  • In the process of revalidating the 2018 Actuarial Valuation
  • Initiated arrangements to institute a Group Life Insurance Policy for employees.
  • Yet to commence remittance of Pension Contributions.
  • Yet to open a Retirement Benefits Bond Redemption Fund Account.
  • Yet to commence funding of the Accrued Pension Rights.
  • Yet to institute a Group Life Insurance Policy.

Kwara State

  • Presented a Bill on the CPS to the State House of Assembly in 2016.
  • Yet to establish a Pension Bureau.
  • Yet to register the Employees with PFAs.
  • Yet to commence remittance of pension contributions for the employees.
  • Yet to conduct Actuarial Valuation to determine the employees’ Accrued Pension Rights.
  • Yet to open a Retirement Benefits Bond Redemption Fund Account.
  • Yet to commence funding of the Accrued Pension Rights.
  • Yet to institute a Group Life Insurance Policy.

Nasarawa State

  • Enacted a Law on the CPS in 2009 (currently in the process of amending the law).
  • Yet to establish a Pension Bureau.
  • Yet to register the Employees with PFAs.
  • Yet to conduct Actuarial Valuation to determine the employees’ Accrued Pension Rights.
  • Yet to open a Retirement Benefits Bond Redemption Fund Account
  • Yet to commence funding of the Accrued Pension Rights.
  • Yet to institute a Group Life Insurance Policy.

Niger State

  • Enacted Law on CPS in 2006.
  • Suspended implementation of the CPS in April 2015 and amended its Law in 2017 to extend the transition period.
  • Established a Pension Bureau.
  • Registered the Employees with PFAs.
  • Resumed deduction of 10.5% employer and 7.5% employee pension contributions in June 2020.
  • Remitted employer and employee contributions up to July 2021.
  • Yet to remit backlog of employer and employee pension contributions to employees RSAs.
  • Yet to conduct an Actuarial Valuation to determine the employees’ Accrued Pension Rights.
  • Yet to commence funding of the Accrued Pension Rights.
  • Yet to institute a Group Life Insurance Policy.

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Plateau State

  • Drafted a new Bill on the CPS in 2021, incorporating the Commission’s observations and comments on the 2020 Draft Bill. The Bill has passed the second reading at the State House of Assembly.
  • Yet to enact a Law on the CPS to guide implementation of the Scheme.
  • Yet to establish a Pension Bureau.
  • Yet to register the Employees with PFAs.
  • Yet to commence remittance of pension contributions for the employees.
  • Yet to conduct Actuarial Valuation to determine the employees’ Accrued Pension Rights.
  • Yet to open a Retirement Benefits Bond Redemption Fund Account.
  • Yet to commence funding of Accrued Pension Rights.
  • Yet to institute a Group Life Insurance Policy.

Adamawa State

  • Drafted the “Adamawa State Contributory Pension Scheme (CPS) Bill 2020”, which seeks to establish a scheme similar to Contributory Defined Benefits Scheme (CDBS) in the State, the 2020 Bill proposed the custody of pension funds by a Board of Trustees instead of PFCs.
  • Enacted a Law on the CPS in 2013, the Law does not provide for the appointment of PFAs.
  • Yet to establish a Pension Bureau.
  • Yet to commence remittance of Pension Contributions for employees.
  • Yet to conduct Actuarial Valuation to determine the employees’ Accrued Pension Rights.
  • Yet to open Retirement Benefits Bond Redemption Fund Account.
  • Yet to commence funding of Accrued Pension Rights.
  • Yet to institute a Group Life Insurance Policy.

Bauchi State

  • The Contributory Pension Scheme Bill 2022 has been passed by the State House of Assembly, awaiting ascent by the Executive Governor.
  • Yet to establish a Pension Bureau.
  • Yet to register the Employees with PFAs.
  • Yet to commence remittance of pension contributions for the employees.
  • Yet to conduct an Actuarial Valuation to determine the employees’ Accrued Pension Rights.
  • Yet to open a Retirement Benefits Bond Redemption Fund Account.
  • Yet to commence funding of Accrued Pension Rights.
  • Yet to institute a Group Life Insurance Policy.

Borno State

  • Drafted a Bill on CPS in 2012.
  • Yet to enact a Law on the CPS to guide implementation of the Scheme.
  • Yet to establish a Pension Bureau.
  • Yet to register the Employees with PFAs.
  • Yet to commence remittance of pension contributions for the employees.
  • Yet to conduct an Actuarial Valuation to determine the employees’ Accrued Pension Rights.
  • Yet to open a Retirement Benefits Bond Redemption Fund Account.
  • Yet to commence funding of Accrued Pension Rights.
  • Yet to institute a Group Life Insurance Policy.

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Gombe State

  • Enacted a Law on CPS in 2008 but amended the 2008 CPS Law to CDBS Law in January 2019
  • Yet to establish a Pension Bureau.
  • Yet to commence remittance of employer and employee pension contributions.
  • Yet to conduct an Actuarial Valuation to determine the status of funding of the Pension Scheme.

Taraba State

  • Enacted a Law on CPS in 2009.
  • Yet to establish a Pension Bureau.
  • Yet to register the Employees with PFAs
  • Yet to commence remittance of Pension Contributions.
  • Yet to conduct an Actuarial Valuation to determine the employees’ Accrued Pension Rights.
  • Yet to open a Retirement Benefits Bond Redemption Fund Account.
  • Yet to commence funding of the Accrued Pension Rights.
  • Yet to institute a Group Life Insurance Policy.

Yobe State

  • Operating the Defined Benefits Scheme.
  • A committee was inaugurated on the adoption of the CPS in February 2020.
  • Drafted a bill on Contributory Pension Scheme (CPS) in 2020 and forwarded a copy to the Commission for review in April 2022.
  • The Commission communicated its observation on the draft bill to the State in June 2022.
  • Yet to establish a Pension Bureau.
  • Yet to register the Employees with PFAs
  • Yet to commence remittance of Pension Contributions.
  • Yet to conduct an Actuarial Valuation to determine the employees Accrued Pension Rights.
  • Yet to open a Retirement Benefits Bond Redemption Fund Account.
  • Yet to commence funding of the Accrued Pension Rights.
  • Yet to institute a Group Life Insurance Policy.

Jigawa State

  • Enacted a Law on the CPS in 2005 and further amended the law in 2015.
  • Established a Pension Bureau.
  • Remitted 17% employer & 8% employee Pension Contributions under the Contributory Defined Benefits Scheme up to June 2022 to 6 selected PFAs although couple of months have been omitted.
  • Last actuarial valuation conducted in December 2018 established a deficiency of N9.32 billion.
  • Yet to remit omitted monthly contributions.

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Kaduna State

  • Enacted Law on CPS in 2007. Amended its Law on the CPS in 2016 and further amended it in 2020.
  • Established a Pension Bureau.
  • Registered the Employees with PFAs.
  • Remitting Pension Contributions but reduced the employer’s rate of contributions from 13% to 8% via the 2020 amendment law.
  • The 7% existing employee pension contribution rate had nonetheless been retained
  • Conducted an Actuarial Valuation to determine the employees’ Accrued Pension Rights.
  • Opened a Retirement Benefits Bond Fund Account with the CBN
  • Funding Accrued Rights consistently with 5% of the monthly wage bill.
  • Replaced the Group Life Insurance with a Sinking Fund, which is domiciled with the CBN and the State has commenced setting aside funds in the account for settlement of death benefits.
  • The State has arrears of Accrued Pension Rights.

Kano State

  • Enacted Law on the CDBS in 2006.
  • Deducted Pension Contributions are under the management of a Board of Trustees instead of the PFAs.
  • Yet to establish a Pension Bureau to drive the CBDS.
  • Yet to commence deduction and remittance of pension contributions under the CDBS.
  • Yet to conduct an Actuarial Valuation to determine the status of funding of the Pension Scheme.

Katsina State

  • The Bill on Contributory Defined Benefits Scheme (CDBS) had been passed by the State House of Assembly and awaiting accent by the Executive Governor.
  • Yet to establish a Pension Bureau.
  • Yet to commence remittance of employer and employee pension contributions to appointed PFAs.

Kebbi State

  • Enacted a Law on the CPS in 2009 (amended some sections of the Law in 2014).
  • Established a Pension Bureau.
  • Registered the Employees with PFAs.
  • Remitting only 7.5% employee Pension Contributions.
  • Yet to conduct an Actuarial Valuation to determine the employees’ Accrued Pension Rights.
  • Yet to open a Retirement Benefits Bond Redemption Fund Account .
  • Yet to commence funding of the Accrued Pension Rights.
  • Yet to institute a Group Life Insurance Policy.
  • Employees covered under the CPS being retired into the DBS as a result of failure to remit employer contributions and accrued rights.

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Sokoto State

  • Enacted Law on CPS in 2007.
  • Yet to establish a Pension Bureau.
  • Yet to register the employees with PFAs.
  • Yet to commence deduction and remittance of Pension Contributions.
  • Yet to conduct an Actuarial Valuation to determine the employees’ Accrued Pension Rights.
  • Yet to open a Retirement Benefits Bond Redemption Fund Account.
  • Yet to commence funding of the Accrued Pension Rights.
  • Yet to institute a Group Life Insurance Policy

Zamfara State

  • Enacted a Law on the CPS in 2006. Repealed the Law on CPS and enacted a Law on the CDBS in 2019.
  • Remitted only the 7.5% employee pension contributions prior to enacting the CDBS Law but stopped remitting with the enactment of the CDBS Law.
  • The refund of remittances made under the CPS for employees of the State has been concluded.
  • Yet to establish a Pension Bureau to drive the CBDS.
  • Yet to commence deduction and remittance of pension contributions under the CDBS.
  • Yet to conduct an Actuarial Valuation to determine the status of funding of the Pension Scheme.

Abia State

  • Enacted a Law on the CPS in 2017.
  • Yet to establish a Pension Bureau.
  • Yet to register the employees with PFAs.
  • Yet to commence remittance of Pension Contributions.
  • Yet to conduct an Actuarial Valuation to determine the employees’ Accrued Pension Rights.
  • Yet to open a Retirement Benefits Bond Redemption Fund Account.
  • Yet to commence funding of the Accrued Pension Rights.
  • Yet to institute a Group Life Insurance Policy.

Anambra State

  • Enacted a Law on the CPS in 2013.
  • Amended some sections of the Law in 2014.
  • Registered the State’s employees with PFAs.
  • Remitted 10% employer pension contributions up to December 2017 and 5% employee pension contributions up to August 2021 for some State employees.
  • Opened a Retirement Benefits Bond Redemption Fund Account with a PFA for the Local Government employees, in line with the State Law.
  • Stopped remittance of 10% employer & 5% employee pension contributions for the Local Government employees since August 2018.
  • Yet to conduct an Actuarial Valuation to determine the employees’ Accrued Pension Rights.
  • Irregular funding of Accrued Pension Rights for Local Government employees.
  • Yet to establish a Pension Bureau.
  • Yet to open a Retirement Benefits Bond Redemption Fund Account.
  • Yet to commence funding of the Accrued Pension Rights.
  • Yet to institute a Group Life Insurance Policy.

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Ebonyi State

  • Enacted a Law on the CPS in 2017.
  • Yet to establish a Pension Bureau.
  • Yet to register the employees with PFAs.
  • Yet to commence remittance of Pension Contributions.
  • Yet to conduct an Actuarial Valuation to determine the employees’ Accrued Pension Rights.
  • Yet to open a Retirement Benefits Bond Redemption Fund Account.
  • Yet to commence funding of the Accrued Pension Rights.
  • Yet to institute a Group Life Insurance Policy.

Enugu State

  • Enacted a Law on the CPS in 2014.
  • Yet to establish a Pension Bureau.
  • Yet to register the employees with PFAs.
  • Yet to commence remittance of Pension Contributions.
  • Yet to conduct an Actuarial Valuation to determine the employees’ Accrued Pension Rights.
  • Yet to open a Retirement Benefits Bond Redemption Fund Account.
  • Yet to commence funding of the Accrued Pension Rights.
  • Yet to institute a Group Life Insurance Policy.

Imo State

  • Enacted a Law on the CPS in 2008.
  • Yet to establish a Pension Bureau.
  • Yet to register the employees with PFAs.
  • Yet to commence remittance of Pension Contributions.
  • Yet to conduct an Actuarial Valuation to determine the employees’ Accrued Pension Rights.
  • Yet to open a Retirement Benefits Bond Redemption Fund Account.
  • Yet to commence funding of the Accrued Pension Rights.
  • Yet to institute a Group Life Insurance Policy.

Akwa Ibom

  • Drafted Bill on CPS in 2017.
  • Yet to enact a Law on the CPS to guide implementation of the Scheme.
  • Yet to establish a Pension Bureau.
  • Yet to register the employees with PFAs.
  • Yet to commence remittance of Pension Contributions for the employees.
  • Yet to conduct an Actuarial Valuation to determine the employees’ Accrued Pension Rights.
  • Yet to open a Retirement Benefits Bond Redemption Fund Account.
  • Yet to commence funding of the Accrued Pension Rights.
  • Yet to institute a Group Life Insurance Policy for the employees.

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Bayelsa State

  • Enacted a Law on the CPS in 2009
  • Established 2 Pension Bureaus (State & Local Governments).
  • Yet to register the employees with PFAs.
  • Yet to commence remittance of Pension Contributions.
  • Yet to conduct an Actuarial Valuation to determine the employees’ Accrued Pension Rights.
  • Yet to open a Retirement Benefits Bond Redemption Fund Account.
  • Yet to commence funding of the Accrued Pension Rights.
  • Yet to institute a Group Life Insurance Policy.

Cross River

  • Drafted a Bill on the CPS in 2021.
  • Yet to enact a Law on the CPS to guide implementation of the scheme.
  • Yet to establish a Pension Bureau.
  • Yet to register the employees with PFAs.
  • Yet to commence remittance of Pension Contributions for the employees.
  • Yet to conduct an Actuarial Valuation to determine the employees’ Accrued Pension Rights.
  • Yet to open a Retirement Benefits Bond Redemption Fund Account.
  • Yet to commence funding of the Accrued Pension Rights.
  • Yet to institute a Group Life Insurance Policy.

Delta State

  • Enacted a Law on the CPS in 2008 (amended the Law 2011).
  • Established 2 Pension Bureaus (State & Local Governments).
  • Registered the Employees with PFAs.
  • Remitting 10% employer & 7.5% employee Pension Contributions (remitted pension contributions up to January 2022 for employees of the State and up to July 2021 for employees of the Local Governments).
  • Conducted Actuarial Valuations to determine the employee’s Accrued Pension Rights.
  • Opened Retirement Benefits Bond Redemption Fund Accounts with the CBN.
  • Funding the Accrued Pension Rights.
  • The State has huge arrears of Accrued Pension Rights.
  • Yet to institute a Group Life Insurance Policy.

Edo State

  • Enacted a Law on the CPS in 2010 (amended the Law 2017).
  • Established a Pension Bureau.
  • Registered the State Employees with PFAs.
  • Remitting 10% employer & 8% employee Pension Contributions.
  • Conducted an Actuarial Valuations to determine the employee’s Accrued Pension Rights.
  • Has a valid Group Life Insurance Policy.
  • Opened a Retirement Benefits Bond Redemptions Fund Account with a PFA.
  • Commenced funding of Accrued Pension Rights.

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Rivers State

  • Enacted a Law on the CPS in 2009 but repealed and re-enacted the Pension Law in 2019 with the transition period extended to 2022.
  • Established a Pension Bureau.
  • Registered the Employees with PFAs.
  • Remitted 7.5% employer and 7.5% employee pension contributions under the repealed law. Stopped remitting the Employer contributions in 2016. The contributions under the repealed law are now being refunded.
  • Although remittance of Employee contributions have commenced under the new law, the remittance of employer contributions are yet to commence.
  • Opened a Retirement Benefits Bond Redemption Fund Account with a PFA.
  • Yet to conduct an Actuarial Valuation to determine the employees’ Accrued Pension Rights.
  • Yet to commence funding of the Retirement Benefits Bond Redemption Fund Account.
  • Yet to institute a Group Life Insurance Policy.

Ekiti State

  • Enacted a Law on the CPS in 2010.
  • Amended the pension law in 2017.
  • Established a Pension Bureau.
  • Registered the Employees with PFAs.
  • Remitted 10% employer & 8% employee Pension Contributions up to November 2021.
  • Conducted an Actuarial Valuation to determine the employees’ Accrued Pension Rights.
  • Opened a Retirement Benefits Bond Redemption Fund Account with 2 PFAs.
  • Yet to commence funding of the Accrued Pension Rights.
  • Group Life Insurance Policy inadequate as it only covered 100 employees.

Lagos State

  • Enacted a Law on the CPS in 2007.
  • Amended some sections of the principal Law in 2021.
  • Established a Pension Bureau.
  • Registered the Employees with PFAs.
  • Remitted 10% employer & 8% employee Pension Contributions.
  • Conducted an Actuarial Valuation to determine the employees’ Accrued Pension Rights.
  • Funding the employees’ Accrued pension Rights.
  • Opened Retirement Benefits Bond Redemption Fund Accounts with two PFAs for the State & Local Governments.
  • Has a valid Group Life Insurance Policy.
  • The State has a huge backlog of Accrued Pension Rights.

Ogun State

  • Enacted a Law on the CPS in 2006 (amended the Law in 2013 to extend its transition period to 2025).
  • Established 2 Pension Bureaus (State & Local Governments).
  • Registered the Employees with PFAs.
  • Deducting 7.5% employer & 7.5% employee Pension Contributions but stopped remitting same since 2015.
  • Yet to resume remittance of pension contributions into the Retirement Savings Accounts of the State and Local Government Councils employees despite effecting deductions from the employee’s salaries.
  • Yet to conduct an Actuarial Valuation to determine the employees’ Accrued Pension Rights.
  • Yet to open a Retirement Benefits Bond Redemption Fund Account.
  • Yet to commence funding of the Accrued Pension Rights.
  • Yet to institute a Group Life Insurance Policy.
  • The State has arrears of Accrued Pension Rights.

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Ondo State

  • Enacted a Law on the CPS in 2014.
  • Amended the CPS Law in 2019 to cover new employees engaged from September 2014.
  • Established a Pension Bureau.
  • Registered the Employees with PFAs.
  • Remitting 10% employer & 8% employee Pension up to January 2022.
  • Has valid Group Life Insurance Policy.
  • The State does not require actuarial valuation given that the CPS Law only covers new employees.

Osun State

  • Enacted a Law on the CPS in 2008.
  • Established 2 Pension Bureaus (State & Local Governments).
  • Registered the Employees with PFAs.
  • Remitted 7.5% employer & 7.5% employee Pension Contributions up to December 2020 for the State employees.
  • Has valid Group Life Insurance Policy.
  • Opened a Retirement Benefits Bond Redemptions Fund Account with the CBN.
  • The State has huge backlog of Accrued Pension Rights.
  • The State has a backlog of unremitted pension contributions.

Oyo State

  • Enacted a Law on the CPS in 2010.
  • Yet to establish a Pension Bureau.
  • Yet to register the Employees with PFAs.
  • Yet to commence remittance of Pension Contributions.
  • Yet to conduct an Actuarial Valuation to determine the employees’ Accrued Pension Rights.
  • Yet to open a Retirement Benefits Bond Redemption Fund Account.
  • Yet to commence funding of the Accrued Pension Rights.
  • Yet to institute a Group Life Insurance Policy.

Check below for PensionNigeria breakdown of all the important aspects of the PenCom 2nd Quarter 2022 Report

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DONT MISS our 2nd Quarter 2022 Report Series

PenCom 2nd Quarter 2022 Report Executive Summary
Analysis of Pension Operating Environment Q2 2022
Performance of all PFAs in Nigeria for January to June 2022 (Year to Date)

Micro Pension Return on Investment (ROI) for January to June 2022 for all PFAs in Nigeria (Year to Date)
Update on RSA Transfer System (RTS) 2nd Quarter 2022
List of Organisations Issued Compliance Certificates as at 30 June 2022
Status of Contributory Pension Assets as at June 2022
Status of Implementation of CPS in States as at 30 June 2022
Micro Pension Registrations per PFA & Fastest Growing PFAs as at 30 June 2022
Appointment & Resignation of Pension Operators’ Board Members and Top Management Q2 2022
PFAs’ Total Shareholders’ Fund now ₦211.26 Billion
Update on NSITF & Refund of Pension Contribution to Military & SSS Q2 2022
Recovery Agents recover ₦22.13 billion from Defaulting Employers as PenCom receives 89 complaints
Lagos State committed to ₦2 billion Monthly to clear Outstanding Accrued Rights of its Retirees, this is how the State has performed
PenCom refunds N4.27 Billion as Zamfara State withdraws from Contributory Pension Scheme, what lies ahead for Retirees
PenCom Engagements with State Governments to ensure Retirees receive Pension as and when due Q22022
Micro Pension Contribution per PFA Q2 2022
RSA Registration Age and Gender Breakdown Q2 2022
Update on the Micro Pension Plan Q2 2022
Biggest PFAs & Fastest Growing PFAs by RSA Registrations 30 June 2022
PenCom approved over N1.58 Trillion for PFAs to pay RSA Holders as at June 2022

Also Check out
Performance of all PFAs in Nigeria for Full Year 2021

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