The National Pension Commission (PenCom), has said that a total of 844,000 retirees across both public and private sectors currently enjoy retirement benefits that are steady, reliable, and transparent, courtesy of the Contributory Pension Scheme(CPS). The Director General PenCom, Ms Omolola Oloworaran who disclosed this at a pension workshop held in Lagos said the enactment of the Pension Reform Act 2004 amended in 2014  which gave birth to the CPS was one of the best things that has happened in the history of Nigeria, adding that it has permanently solved problem of unpaid pensions and retirement without  hope. “Over the last two decades, the Contributory Pension Scheme has rewritten Nigeria’s pension story. We have moved from an era defined by unpaid entitlements and uncertainty to a new order anchored on transparency, sustainability, and inclusiveness.Today, more than 10 million Nigerians from public service employees to private sector workers, and even artisans and the self-employed under the Personal Pension Plan, are covered under the CPS.Pension assets have grown to over N25 trillion, fueling national development through strategic investments, while also securing regular monthly pensions for over 552,000 retirees and lump sum benefits for an additional 291,735 retirees,” she stated.

THISDAY