Osun, Lagos and Kaduna are listed among the 10 states remitting funds into the Retirement Savings Accounts of their employees out of the 26 states that have enacted their Pension Reform Law, investigations have revealed.
The 10 states that have yet to enact the law have also failed to remit the pension funds.
“Ten out of the 36 states have commenced remittance of contributions into the RSAs of their employees. Similarly, eight state governments have commenced funding of their retirement benefit bond redemption fund accounts,” PenCom stated.
The records also showed that 673,116 contributors, who are workers of the various state governments, were registered with different PFAs.
According to the report, Lagos, Ogun, Kaduna, Niger, Delta, Osun, Rivers and Anambra states have commenced the remittance of contributions to six PFAs and were funding their accrued rights.
It explained that Imo State had yet to commence remittance of pension contributions, but that the Imo State University was currently implementing the Contributory Pension Scheme but not yet funding its accrued rights.
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