YOBE STATE EMBARK ON PENSION REFORM JOURNEY WITH PENCOM’S BACKING
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Governor Mai Mala Buni of Yobe State has reaffirmed his administration’s commitment to implement the Contributory Pension Scheme (CPS) in Yobe State.
He stated this during a recent meeting with the Director- General of the National Pension Commission (PenCom), Ms. Omolola Oloworaran in Abuja,a statement said on Friday.
The meeting discussed the adoption and implementation of the CPS in Yobe State,the statement also said.
According to the statement, the engagement aimed to address critical steps required for the transition from the Defined Benefits Scheme (DBS), which is currently in practice in Yobe State to the more sustainable CPS to chart a clear path for the State’s pension reform efforts.
The governor reiterated his administration’s dedication to the welfare and financial security of retirees in the State.
He emphasised the import of the CPS as a part of ongoing efforts to ensure a stable and sustainable pension system for state employees.
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,the governor further emphasised the need for sensitisation programmes to ensure that all stakeholders understand the scheme’s benefits and operational framework.
The statement also quoted that the PenCom’s boss briefed the governor on the CPS and its long-term benefits for State employees.
It said discussions centred on the importance of passing the CPS Bill, ensuring timely remittances, and addressing past service liabilities through actuarial valuation.
It added:”A key outcome of the meeting was the Governor’s assurance of his administration’s readiness to implement the CPS by passing a robust pension law and setting up the necessary administrative structures. Governor Buni also reaffirmed his commitment to pre-retirement training programmes aimed at equipping civil servants with skills for post-retirement opportunities”.
Ms. Oloworaran lauded Governor Buni for his proactive 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 the state.
