A pension expert, Sani Mustapha, says the president-elect, Bola Ahmed Tinubu, should hastily address the glitches in Nigeria’s Contributory Pension Scheme (CPS) to avoid incessant exit agitations by Ministries, Departments and Agencies of government.
Sani, who was speaking to Daily Trust at the side-lines of a pension stakeholder engagement in Abuja, said Mr Tinubu already has a myriad of problems to contend with which include security, employment, infrastructural development, and debt servicing, adding that pension should not be part of it as the sector is already on the part of growth.
He therefore pointed out four areas where Tinubu should look at when his administration comes onboard on May 29.
“Of the four areas to watch out for, first will be the Nigeria Police Force retirees who make regular yearly efforts to leave the CPS and go back to the DBS! They pointed out that the payment of the same rank retiree of the force is higher in the DBS.
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“Recently, the National Assembly workers under cloudy circumstances made the honourable members push for an act to be removed from the CPS. No one was called for a public hearing.
The umbrella association of Pension Operators (PenOp) in Nigeria observed that all stakeholders like the workers union, employers of labour, regulatory authorities and other critical stakeholders were not engaged in the process of passing this all-important amendment,” Sani said.
He said the incoming federal government should strengthen the CPS reform by incentivising states to key in, and ensuring all grievances are settled within the scheme and not go back to the Defined Benefit Scheme.
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