Theme: Pension Reforms: The Threat Of Non-Compliance & Non Sanction.
The laudable Contributory Pension scheme is now under threat. The threat of non compliance and non sanction is making the reform bleed.
According to Vangard of 16th Dec 2019 “None of the 36 states of the federation and the Federal Capital Territory, FCT, Abuja, is fully complying with the Pension Reform Act, 2014, as amended. Investigations revealed that all the states and FCT are breaching the act in one way or the other.”
Speaking on the development, a former board member of PenCom, Issa Aremu, said: “It is a scandal that as former governors ensured illegal states pension laws for non-pensionable political offices, many states are yet to pass the compulsory pension scheme for their employees. Pensions arrears are in trillions of Naira in most states. “
This year Pension conference will show Pension Desk Practitioners the way forward. It is unacceptable that all 36 states that rush to pass states pension laws for few governors are reluctant to pass Contributory Pension Scheme laws for millions of their employees. Life-after-work pay is not guaranteed for many states’ employees.
With this low compliance from employers, there could be hitches with the drive by PenCom to secure a better retirement life for employees in both Public and Private sector, as the commission with its mandate to oversee all pension matters in Nigeria remains incapacitated, dealing with issues relating to employers’ compliance.
The purpose of the conference is to address the current issue of Non Compliance and examine issues of non-sanction of the defaulters.
The conference outline
Benefits of the Conference to Pension Desk Practitioners