PenCom Lists Edo, 3 Others as Only States Complying with Contributory Pension

Eromosele Abiodun

Edo workers have commended the state governor, Mr. Godwin Obaseki for prioritizing the welfare of civil and public servants in the state, with the government keying into the Contributory Pension Scheme and ensuring prompt payment of salaries and pensions to the workers.

The commendation comes as the National Pension Commission (PenCom) listed Edo State and three others as only states that have remitted their worker’s pension contributions fully as of December 2021, in line with the mandate of the Contributory Pension Scheme (CPS).

According to the 2021 fourth-quarter report, Q4’21, released by PenCom, while Edo, Lagos, Kaduna, and Benue are up to date with their remittances, five other states of Osun, Delta, Ekiti, Ondo, Anambra and the Federal Capital Territory (FCT), which are also remitting both employer and employee contributions, have backlogs in remittances.

Analysis of the report shows that 25 states had enacted pension laws on the CPS, while seven states were at the bill processing stage.

Out of the five states operating other pension schemes, four states adopted the Contributory Defined Benefits Scheme (CDBS), while one state operates the Defined Benefits Scheme (DBS).

The Contributory Pension Scheme was introduced in Edo by the Governor Obaseki-led administration in 2017, with retiree workers under the scheme receiving their monthly pensions regularly and promptly, outliving the biggest challenge that confronted the old pension scheme.

Phillips Consulting Provides Insight Into ‘Future’ At AfricaNXT2022 

Phillips Consulting, (pcl.), a leading business and management consulting firm, has provided deep insight into the ‘Future of Work’ paradigm by exploring emerging trends and divers of the ‘Future of Work’ and distilling potential impacts on critical industries across Africa at AfricaNXT2022.

The company has, in the past two years re-imagine the future of work as the world comes to grips with the next normal, businesses and teams have to continue to adjust and react quickly to remain competitive.

“African businesses and industry leaders are facing daunting tasks to navigate a post-covid economic environment continuously shaped by accelerating digitisation, rising hybrid workplace, diversity, globalisation, and Artificial intelligence. To do nothing is dangerous to businesses and the prosperity of the African continent, “said Mr. Rob Taiwo, Managing Director Phillips Consulting.

The panelists at the event contextualized and mapped how critical enablers of the fourth and fifth industrial revolution will profoundly drive transformation across industries and redefine the Future of Work.

According to Senior Managing Consultant & Head of Advisory, PCL, Mr. Joshua Ademuwagun, “We shared best practices and offered industry-focused considerations on how business leaders need to rethink their business models and strategies to best position themselves to leverage emerging opportunities.

Meanwhile, Remi Dada, Founder & CEO Spacefinish & Design Match Up stated that the future of work is about being empowered to work how you want, when you want. When employees are empowered, performance becomes the goal.

Earlier, Head, HR & Admin, Lagos State Employment Trust Fund, Arinola Fetuga asked, “How do we transfer knowledge and build strong relationships between employees and employers, when everyone is working in a different environment? That is where Technology comes into play when building the Future of work.”