Ogun State Governor, Senator Ibikunle Amosun, has urged the National Assembly to expedite action on the amendment of Pension Reform Act 2004 so that issues surrounding the Contributory Pension Scheme (CPS) can be addressed. Amosun gave the advice at the weekend, during the opening of the South-West zonal office of the National Pension Commission in Lagos.He said the only way workers' confidence in the scheme could be restored was for government to do things diligently and transparently."Pension scheme is good for our workers. It is a long-term investible fund that could sustain us at old age. It will also help to reduce corruption in the public service because when you know that something is waiting for you after service, you will not want to cheat the system," the governor said.Lamenting the rot in the system he inherited in Ogun, Amosun said a whopping N13b pension arrears was inherited from the last administration. He noted that the backlog had been reduced to N5b, assuring that it would be completely cleared within the next two years.The governor, who commended the National Pension Commission for its zonal office initiative, urged it to decentralize its activities in order to enhance its efficiency. The event had in attendance Lagos and Ekiti governors, Chairman, Senate Committee on Establishment and Pensions, representatives of labour unions and pensioners, among others.
Source: Pension Reform Act, Amosun Tasks NASS (http://www.ogunstate.gov.ng/index.php?option=com_content&view=article&id=629:pension-reform-act-amosun-tasks-nass&catid=1:latest-news&Itemid=67)