Governor Mai Mala Buni of Yobe State has re-affirmed his government’s determination to implement the Contributory Pension Scheme (CPS) in Yobe State.
He stated this during a meeting with the Director General of the National Pension Commission (PenCom), Ms. Omolola Oloworaran in Abuja.
Both Governor Mai Mala Buni and the DG PenCom, Ms Omolola Oloworaran at the meeting extensively discussed the adoption and implementation of the CPS in Yobe State.
They also discussed the 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.
During the engagement, Gov. Buni reiterated his administration’s dedication to the welfare and financial security of retirees in the State while emphasizing the importance of the CPS at ensuring a stable and sustainable pension system for state employees.
The Governor said the adoption of the CPS would provide long-term benefits as well as address issues related to pension arrears and past service liabilities adding that there is a need for sensitisation programmes to ensure all stakeholders understand the scheme’s benefits and operational framework.
Speaking for PenCom, Ms. Oloworaran briefed the Governor on the CPS and its long-term benefits for State employees harping 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 pledging continuous technical support from PenCom to facilitate the smooth adoption of the CPS in Yobe State.