Yobe State Government Seeks PenCom Support towards Pension Reform

Oluwakemi Kindness

Yobe State Government has expressed its readiness to collaborate with the National Pension Commission (PenCom) in implementing the Contributory Pension Scheme (CPS) in the state.

The Governor, Mai Mala Buni, disclosed this in Abuja at the weekend during a meeting with the Director General of PenCom, Omolola Oloworaran in Abuja, where discussions focused on the adoption and implementation of the CPS in Yobe State.

Speaking during the meeting, Governor Buni, who reiterated his administration’s dedication to the welfare and financial security of retirees in the State, sought the critical steps required for the state to transit from the Defined Benefits Scheme (DBS).

According to the commission, the Governor highlighted that the adoption of the CPS would not only provide long-term benefits but also address issues related to pension arrears and past service liabilities.

He further emphasized the need for sensitization programmes to ensure that all stakeholders understand the scheme’s benefits and operational framework.

On the PenCom’s side, the DG Omolola Oloworaran briefed the Governor on the CPS and its long-term benefits for State employees.

Discussions centred on the importance of passing the CPS Bill, ensuring timely remittances, and addressing past service liabilities through actuarial valuation.

Oloworaran commended Governor Buni for his forward-thinking approach, particularly his initiative to clear pension arrears owed to retirees. She pledged continuous technical support from PenCom to facilitate the smooth adoption of the CPS in Yobe State.