Status of Implementation of CPS in States as at 30 September 2022

February 11, 2023 PensionNigeria

The National Pension Commission (PenCom) has released the status of implementation of Contributory Pension Scheme (CPS) in States as at 30 September 2022.

The report reveals that as at 30 September 2022, the number of States with laws on the CPS remained Twenty-Five (25) because Bauchi State Government enacted its Law on the CPS on 5 August 2022 while Adamawa State is implementing Contributory Defined Benefits Scheme (CDBS). Seven (7) States were at bill stage, Five (5) States had enacted Laws on the Contributory Defined Benefits Scheme (CDBS) with two (2) out of five (5) States currently implementing the scheme while the other three (3) Gombe, Zamfara and Adamawa are yet to commence implementation.

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See below a table showing the Summary of Implementation of CPS in States as at 30 September 2022.

Also see below the status of compliance per state with “Level of implementation” and “Outstanding implementation milestone”.

Check below for PensionNigeria breakdown of all the important aspects of the PenCom 3rd Quarter 2022 Report

DONT MISS our 3rd Quarter 2022 Report Series

Director General’s Remarks on PenCom 3rd Quarter 2022 Report
Analysis of Pension Operating Environment 3rd Quarter 2022
Appointment & Resignation of Pension Operators’ Board Members and Top Management Q3 2022
Recovery Agents recover ₦23.30 billion from Defaulting Employers as PenCom takes 19 Employers to Court over Non-Remittance of Pension Contributions in Q3 2022
Update on NSITF & Refund of Pension Contribution to Military & SSS Q3 2022
Lagos State only paid about half of the amount it committed to clear outstanding Accrued Rights of its Retirees
Kaduna State is not fully Implementing Contributory Pension Scheme but seeks PFAs to invest Pension Funds in Kaduna State Bonds
Ekiti State Pays 1st Batch of Retirees under CPS, plans to implement VC for Exempted Employees
Zamfara State exited CPS & PenCom has refund their Pension Contributions but Retirees are still not better off
Update on Benue & Bauchi State Pension Reform Laws
PenCom Engagements with 5 States on Implementation of Contributory Pension Scheme
Update on RSA Transfer System (RTS) 3rd Quarter 2022
Micro Pension Registrations per PFA & Fastest Growing PFAs as at 30 September 2022
Micro Pension Contributions received per PFA Q3 2022
Update on the Micro Pension Plan Q3 2022
List of Organisations Issued Compliance Certificates as at 30 September 2022
Total RSA Registration as at 30 September 2022
Status of Contributory Pension Assets as at September 2022
Biggest PFAs & Fastest Growing PFAs by RSA Registrations 30 September 2022
RSA Registration Age and Gender Breakdown for Q3 2022
PenCom approved over N1.66 Trillion for PFAs to pay RSA Holders as at Q3 2022
Status of Implementation of CPS in States as at 30 September 2022

Also Check out
Performance of all PFAs in Nigeria for January to September 2022 (Year to Date)

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