Yobe Government Strategise With PenCom For Enhanced Pension Reform, Set To Pass Pension Law

The Borno State government is restrategising with the National Pension Commission (PenCom) towards implementing the Contributory Pension Scheme (CPS) in the state.

To achieve this, the state governor,
Mai Mala Buni has assured his administration’s readiness to implement the CPS by passing a robust pension law and setting up the necessary administrative structures.

He gave the assurance while meeting with the Director General of PenCom, Ms. Omolola Oloworaran in Abuja.

They discussed the adoption and implementation of the Contributory Pension Scheme (CPS) in Yobe State at the meeting targeted at addressing critical steps required for the transition from the Defined Benefits Scheme (DBS), which is currently in practice in Yobe State to the more sustainable CPS to chart a clear path for the State’s pension reform efforts.

This is even as PenCom pledged to render technical support to the state to ensure a success of the envisage pension reforms in Yobe state.

Speaking during the meeting, Gov. Buni reiterated his administration’s dedication to the welfare and financial security of retirees in the State.

He emphasised the importance of the CPS as a part of ongoing efforts to ensure a stable and sustainable pension system for state employees.

The Governor highlighted that the adoption of the CPS would not only provide long-term benefits but also address issues related to pension arrears and past service liabilities.

He further emphasised the need for sensitisation programmes to ensure that all stakeholders understand the scheme’s benefits and operational framework.

On her part, the PenCom Director General briefed the Governor on the CPS and its long-term benefits for State employees. Discussions centred on the importance of passing the CPS Bill, ensuring timely remittances, and addressing past service liabilities through actuarial valuation.

A key outcome of the meeting was the Governor’s assurance of his administration’s readiness to implement the CPS by passing a robust pension law and setting up the necessary administrative structures.

Governor Buni also reaffirmed his commitment to pre-retirement training programmes aimed at equipping civil servants with skills for post-retirement opportunities.

Ms. Oloworaran commended Governor Buni for his forward-thinking approach, particularly his initiative to clear pension arrears owed to retirees.

She pledged continuous technical support from PenCom to facilitate the smooth adoption of the CPS in Yobe State.