‘FG should partner with states for contributory pensions’

The Contributory Pension and Happy Retirement Advocacy (COPEHRA) has urged the federal government to prioritise partnerships with states for the Contributory Pension Scheme (CPS) to succeed.

At a press briefing in Abuja yesterday, the legal adviser of COPEHRA, Barr. Oyiminu Audu, said although many states have passed the Pension Reform Act, many are yet to implement the scheme.

She said, “Although the National Pension Commission is spearheading the scheme, there is a clarion call on states to key into this noble scheme to succeed and for the happiness of their retirees as most states that key into the CPS and have their funds managed by the registered operators do not owe their pensioners.”

It also noted that frontline politicians did not make significant input on pension plans for Nigerians.

“We note that going through the available manifestos of the three of the four strong contenders of the presidency, not much was mentioned about pension or retirement!”

The group also called on the incoming government to set up machinery for the consideration of a second pension pillar in line with the World Bank standard in order to increase protection against retirement poverty.