The National Pension Commission (PenCom) has taken the bold step to address the challenges against the progress of Contributory Pension Scheme (CPS) in Federal Government’s Ministries, Departments and Agencies (MDAs) across the country. “As part of our enlightenment programme, we are meeting with the PDOs in the South West zone as we have done in some other parts of the country. They are crucial stakeholders in the Scheme so we have to use this kind of event to educate them on the developments in pension industry. Explaining the delays in pension payment and non-remittance of monthly contributions, he said: “With regards to remittance, you know that the contributions are done monthly. “The government remittances are done mostly by PenCom while pension contributions are deducted from the source and these monies are sent to Central Bank of Nigeria (CBN).”

Source: The Guardian April 16, 2018 03:56 UTC