Edo Assures Refund Of Pension Contributions For Workers Moved From Contributory To Defined Benefit Scheme

Edo Assures Refund Of Pension Contributions For Workers Moved From Contributory To Defined Benefit Scheme

From: Razak Zekeri, Senior Special Assistant to the Governor on Public Affairs 


The Edo State Government has given a firm assurance that it will refund the 8 percent pension contributions made by workers who were recently migrated from the Contributory Pension Scheme (CPS) to the Defined Benefit Scheme (DBS).


The assurance was given by the Permanent Secretary of the Edo State Pension Bureau, Mr. Washington Abbe, while speaking with journalists in Benin City on the issues surrounding the transition of affected pensioners from CPS to DBS.


Mr. Abbe said the state government is fully committed to ensuring that no pensioner suffers any loss or disadvantage as a result of the migration exercise, stressing that the welfare of workers and retirees remains a top priority of the present administration.


According to him, all personal contributions made by the affected workers while under the Contributory Pension Scheme will be refunded to them in full, in line with the government’s policy on the migration to the Defined Benefit Scheme.


He further clarified the status of the 10 percent counterpart contributions made by the Edo State Government under the CPS arrangement. He explained that the government’s matching contributions will be refunded to the state coffers and subsequently channeled towards the settlement of outstanding pension liabilities.


Speaking on why the remittance of workers’ CPS contributions was last made in January 2025, the Permanent Secretary explained that the delay was occasioned by a new payment framework recently introduced by the National Pension Commission (PENCOM) for state governments and licensed Pension Fund Administrators (PFAs).


Mr. Abbe disclosed that under the new arrangement, PENCOM has appointed an intermediary body to facilitate the remittance of pension contributions and to safeguard employees’ funds against loss, misallocation, or irregularities arising from missing Personal Identification Numbers (PINs) and PIN mismatch.


He explained that with the new system, states are now required to carry out a comprehensive reconciliation of the PINs of all employees before pension contributions can be processed and transferred through the designated third party.


Despite the delay, he assured that the funds for the remittance are intact and ready for payment. He added that the Edo State Government is only awaiting final assurance from PENCOM regarding the safety and security of the funds before proceeding with the disbursement through the intermediary.


The Permanent Secretary reiterated that the state government remains resolute in ensuring that the entire pension transition process is handled with utmost transparency, accountability and in a manner that fully protects the rights and interests of affected workers and pensioners in the state.

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