IMO State to Implement Contributory Pension Scheme

Imo State governor, Emeka Ihedioha, has revealed that the state government has commenced the process of implementing Contributory Pension Scheme (CPS) for pensioners in the State. 

The governor stated that his administration is riding on the legal framework provided by the state’s legislature which enacted the CPS law in 2009. Speaking in Owerri, the state capital on Thursday 18 July, the governor said that the CPS will ensure that remittances into workers’ retirement savings accounts and funding of the retirement benefit bond redemption fund accounts, were made. In addition, the CPS will guarantee sustainability of payments and regularity of same.

The Governor also disclosed that the committee on pension matters set up by his administration has commenced pension verification, saying that it will be the last verification exercise the state will embark on as the data collated will remain credible. He explained that the verification was necessary to obtain the accurate data of pensioners and to work out the best packages for the senior citizens in the state. 

The Governor concluded by saying, we appeal for understanding as this is for the sole purpose of sanitising the system. We feel empathy for our senior citizens. Hence, we are determined to bring an end to the situation where pensioners stand under the sun for several hours in order to receive their accrued rights.