National Pension Commission, PenCom, weekend, said the Contributory
Pension Scheme, CPS, had generated over N3.5 trillion with no fewer than
5.61 million workers now in the scheme.
Acting Director-General
of PenCom, Mrs. Chinelo Anohu-Amazu, announced this at the commissioning
of the South-West zonal office of the commission in Lagos.
Governors
Babatunde Fashola of Lagos State; Ibikunle Amosun of Ogun and Kayode
Fayemi of Ekiti stat; Senate President, Mr. David Mark, represented by
the Chairman, Senate committee on Establishment and Pension, Senator
Aloysius Etok, Senator Gbenga Ashafa and Babafemi Ojudu, Vice Chairman
of the House Committee on Establishment and Pension, Mr. Samson Okwu and
other dignitaries.
According to her, the commission had “over
N3.50 trillion invested in various financial instruments in the country.
As at June 2013, the value of pension funds’ investment in state
government bonds was N169.73 billion.
“Most of the states have
utilised the proceeds from the fund towards the provision of vital
infrastructure for the well being of its citizens.
“Since inception, 5.61 million workers have been registered into the new scheme.
“States
in the country, especially the South-West zone, that are yet to
complete the necessary process of full implementation of CPS, should
renew their commitment and fast track action on all outstanding issues
to avail their employees of all the benefits attached to the new
scheme.”
Governor Fashola, others react
Governor Fashola
urged the National Assembly to deal expeditiously with the Pension
Reforms Act 2004, which had been returned to Parliament for
re-examination, saying “we continuously have to reflect and rethink and
that is why the bill is back in Parliament.”
Similarly, Governor
Amosun noted that the responsibility of every government was to
encourage its workers to realise the dignity in labour adding “his
administration has demonstrated in many ways that the government is
concerned about the welfare of its workforce.”
On his part,
Governor Fayemi said his government was willing to adhere to the
enabling rules and regulations set out by the Pension Reform Act 2004.
Ondo State Head of Service, Mr. Toyin Akikuotu, applauded the commission for decentralising the administration of pension in the country.
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