Only four states and the Federal Capital Territory (FCT) are presently paying retirees through the Contributory Pension Scheme (CPS), the National Pension Commission (PenCom) has said.
PenCom stated this in a publication entitled: Status of Implementation of CPS in States as at February 26, 2020. It named the states as, Lagos; Delta; Kaduna and Osun.
The pension regulator said five states which are: Lagos; Kaduna; Delta; Anambra; Osun and the FCT are those funding their workers accrued pension rights and have also carried out actuarial valuations.
Rivers and Kebbi, it said are presently remitting only employees’ contributions, while Lagos; Kaduna; Delta; FCT; Ondo; Edo; Anambra; Ekiti and Osun are remitting employers and employees contributions.
It said Jigawa; Kano; Yobe; Gombe and Zamfara operate other form of pension scheme, 25 states have enacted pension laws, while Kwara; Plateau; Cross River; Borno; Akwa-Ibom; Bauchi and Kastina are still working on their pension bill.