The National Pension Commission (PenCom) has called on state governors to demonstrate stronger political will in implementing the Contributory Pension Scheme (CPS), warning that delays in pension reforms could expose millions of public sector workers to financial hardship in retirement and saddle states with mounting pension liabilities.
Speaking at the first 2026 Consultative Forum for States, the Federal Capital Territory and Licensed Pension Fund Operators in Lagos, Omolola Oloworaran, director-general of PenCom, said only eight states have fully implemented the CPS despite its proven benefits in securing workers’ retirement savings and improving fiscal sustainability.
“Governors need to demonstrate stronger political will by prioritising the welfare of their workers, not only during their years of service, but also after retirement. They must look beyond immediate needs and ensure that workers have financial security when they retire,” Oloworaran said.
She cautioned states against retaining workers’ pension contributions in government-controlled accounts, describing the
This post was originally published on this site.
