ONLY 10 states are implementing the contributory pension scheme, the Nigeria Labour Congress (NLC) has said.

Speaking yesterday in Abuja at the 10th anniversary of Trustfund Pensions Plc., the President of NLC, Wabba Ayuba, lamented that the states are denying their workers the opportunity to have reliable pension upon retirement.

The NLC President, who spoke though his deputy, Peters Adeyemi, added: “Despite the fact that the problem of retired teachers at the state and local government levels arguably kick-started the agitation for pension reforms in the country after the return to civil rule, when it eventually became a reality in 2004, the public servants in the states and local governments across the federation were excluded from coverage

“Though the 2014 amendment to the Pension Reform Act rectified the omission in the 2004 Act, the fact that only 10 states out of 36 have completed the process of legislation and full contributory schemes were in place as at last quarter of 2015, shows the effect of the non-inclusion of states in the earlier reforms.”

The Managing Director of Trustfund, Mrs. Helen Da-Sousa, said the Fund, with asset of about N300 billion, has over 600, 000 registered contributors, out of which about 8,000 members are earning monthly pensions from the company.

On the sustainability of the contributory pension scheme, Da-Souza said it has restored hope to the senior citizens who often suffer delayed years of unpaid pension or outright denial of their pensions due to allege mismanagement and other sharp practices.
She called for prompt remittance of pension contributions by private sector employers, suggesting that legal and punitive measures, in line with the Pension Reform Act of 2004, be activated.