PenCom urges more states to adopt CPS

The Director-General of the National Pension Commission, Omolola Oloworaran, has called on states across Nigeria to embrace the Contributory Pension Scheme (CPS) to ensure the well-being of retirees. Speaking at the Pension Awards night held in Abuja during the National Pension Week, Oloworaran highlighted the inaugural awards ceremony, which celebrated excellence, innovation, coverage, and commitment to pension reform.

The event also served as a platform for a leadership summit, focusing on the critical need for robust pension systems to guarantee dignified retirements for all Nigerian workers.

Oloworaran announced several categories for the awards, including the best states in CPS penetration, most improved states, and best-performing states. She emphasized the importance of states adopting the CPS, stating that it is the only viable path to ensure the dignity of retirees. The PenCom DG also recognized the vital role of the National Assembly in the ongoing pension Act review, urging stakeholders to commit to expanding pension coverage, enhancing pension institutions, and improving the lives of ordinary Nigerians.