COPHERA tasks non-compliant states on deepening contribution pension

The Contributory Pension and Happy Retirement Advocacy (COPEHRA), a non-government organization advocating for the promotion of contributory pension in Nigeria, has urged states yet to key into the scheme to do so without further delay toward guaranteeing employees future.

Daily Trust reports that according to the National Pension Commission, aside from the FCT, only six states are fully implementing the Contributory Pension Scheme. They are Lagos, Osun, Kaduna, Ekiti, Edo and Ondo.

Speaking at a seminar on the benefits of the Contributory Pension Scheme in Nigeria and financial inclusion which took place in Abuja over the weekend, the representative of the Executive Director of COPHERA, Mr. Sani Ibrahim Mustapha, stated that “Only six states are fully implementing contributory pension scheme and it is very poor.

“We can’t deepen the scheme with just six states out of 36 states. As such, the governors of these states who haven’t fully keyed into the scheme should meet the National Pension Commission or their colleagues and copy a lead from them or ask them how they did it.

“Retirees and pensioners in states are suffering because the defined benefit scheme relies on funding from the Treasury of the states, but we can’t continue like this if we want a future for our retirees and senior citizens,” he noted.

Speaking further, he said the micro pension scheme designed for the informal sector has provided an avenue for artisans and business owners which they should consider exploring.