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2 clusters · 6 sources · 19 days · First seen · Last updated

Nigeria pension scheme implementation and verification

Overview

The National Pension Commission (PenCom) has provided updates regarding the implementation of pension schemes and the verification of accrued rights in Nigeria.

Reports indicate that only seven states and the Federal Capital Territory have fully implemented the Contributory Pension Scheme (CPS) and the Contributory Defined Benefits Scheme (CDBS). While 13 states are in various stages of partial implementation, several others have inactive pension laws or are still at the legislative bill stage.

In a separate effort to settle pension liabilities from the former Defined Benefit Scheme, PenCom has extended the deadline for mandatory online pension verification and enrolment to December 31. This extension follows requests from various Ministries, Departments, and Agencies (MDAs) and addresses low participation rates, as only about 21 percent of the estimated 150,000 eligible Federal Government employees had completed the process as of July.

Entities

National Pension Commission · Nigeria · Edo · Osun · Lagos

Timeline

  1. 6 days ago

    [BUSINESS] 5 sources
    PenCom extends online pension verification deadline to December

    Nigeria's National Pension Commission has extended the mandatory online pension verification deadline to December 31 due to low participation among eligible civil servants.

  2. 25 days ago

    [BUSINESS] 2 sources
    PenCom: Seven states and FCT fully implement pension schemes

    PenCom reports that only seven Nigerian states and the FCT have fully implemented the Contributory Pension Scheme and Defined Benefits Scheme, while many others remain in partial or legislative stages.

Sources

bizwatchnigeria.ng · businessamlive.com · businessday.ng · dmarketforces.com · nairametrics.com · realnewsmagazine.net