CONTRIBUTORY PENSION SCHEME TAKES OFF IN EDO

Contributory pension scheme takes off in Edo

 

Edo state governor, Godwin Obaseki, on Wednesday appointed 15 pension fund administrators to undertake the enrollment of employees in the state public service in accordance with his 2017 budget presentation speech.

 

A statement by the Chief Press Secretary, Mr. John Mayaki said government has proposed to the Edo State House of assembly, an executive bill for the amendment of the pension law to ensure its smooth operation in the state.

 

The statement said the scheme, aimed at mitigating challenges faced by workers, commenced January of 2017.
Meanwhile, the governor also revealed that he would do everything possible to resolve outstanding pensions and gratuities adding that, “The issue of pension is one that we will deal with”.

 

He said, “The government has made provision in the budget for the scheme, with the contribution of 10 per cent by government and 8% by workers.

 

The Governor however, called on workers and other relevant stakeholders to support government in the actualization and realization of this scheme for the benefit of all.

 

Obaseki thereafter listed the appointed 15 pension fund administrators to include:

(i)       Aiico Pension Managers Limited

(ii)      ARM Pension Managers (PFA) Limited

(iii)     Crusader Sterling Pensions Limited

(iv)     Fidelity Pension Managers Limited

(v)      First Guarantee Pensions Limited

(vi)     Future Unity Glanvils Pensions Limited

(vii)    Leadway Pension PFA Limited

(viii)   NLPC Pension Managers Limited

(ix)    Legacy Pension Managers Limited

(x)     Pensions Alliance Limited (PAL)

(xi)    Sigma Pensions Limited

(xii)   Stanbic IBTC Pension Managers Limited

(xiii)  Premium Pension Limited

(xiv)  OAK Pensions

(xv)   Trust Fund

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