By Kemi Olatunde

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Ondo State is among the 11 states that have successfully implemented the Contributory Pension Scheme in Nigeria.

This was contained in a recent report by the National Pension Commission (PENCOM) last Wednesday.

PenCom disclosed that as of December 3, 2024, only 11 states—Lagos, the FCT, Osun, Kaduna, Ekiti, Edo, Ondo, Delta, Benue, Anambra, and Jigawa—have fully implemented the CPS.

This remarkable compliance and achievement as gathered, is a testament to the commitment of the state Governor, Hon. Lucky Aiyedatiwa in providing a financially secured future environment for the state employees.

According to PENCOM, the Pension Reforms Policy was formulated to ensure that employees receive their pension benefits as and when due ,noting that the guidelines aim at promoting transparency and accountability in the management of pension funds.

PENCOM’s report also indicated that Ondo State as Dec 31, 2024 have fully domesticated the CPS by enacting enabling laws and putting relevant administrative structures in place.

The report also commended states that have complied warning that continued delays by others risk exacerbating long-term pension liabilities and placing unsustainable financial burdens on future administrations.

Ondo State’s compliance with the Pension Reforms scheme is attributed to the Management of the Ondo State Pension Commission, under the leadership of it’s Director General, Hon. Babatunde Adefusi-Owate. With his expertise and guidance, the commission has not only fulfilled the requirements of the pension reform but has also introduced innovative initiatives to enhance the overall pension experience for workers in the state.

Ondo State Pension Commission has achieved up-to-date pension remittance, making it one of the few states in the country to have achieved the feat.

It is worthy of note that the commission has implemented a valid group life assurance policy for workers on the pension scheme, further underscoring its dedication to the welfare of its employees.

Ondo State’s compliance with the pension reform scheme is a significant achievement that demonstrates its commitment to the welfare of her  employees. The state’s pension commission, under the leadership of Babatunde Adefusi-Owate, has set a high standard for pension administration in Nigeria with a  benchmark for effective pension management, consistently remitting both employer and employee contributions and ensuring that retirees receive their benefits without delay. These  efforts will undoubtedly have a lasting impact on the lives of workers in the state.