The National Pension Commission (PenCom) is leaving no stone unturned over the lingering issue of Lagos State Retirees receiving all benefits legitimately due them.
PenCom in a statement acknowledged the concerns expressed by pensioners under the Contributory Pension Scheme in Lagos State regarding the implementation of pension increases and wage awards.
PenCom made it clear it recognises the importance of ensuring that retirees receive all benefits legitimately due to them and appreciates the concerns arising from delays in the implementation of any approved pension adjustments.
The pension regulator has engaged with the Lagos State Government and the Lagos State Pension Commission (LASPEC) on matters related to administering pensions under the CPS, including the need to extend appropriate pension adjustments to eligible CPS retirees.
Implementing pension enhancements involves determining eligibility, applicable adjustments, actuarial liability, funding, and providing relevant data and instructions to the pension operators. PenCom is engaging the relevant stakeholders to ensure that these processes are properly addressed.
THe pension czar said it will continue to work with the Lagos State Government, LASPEC, PFAs, and representatives of pensioners toward a transparent, orderly, and sustainable resolution of the issues.
Assuring retirees that it has their back PenCom said it remains committed to protecting the interests of pension contributors and retirees and will continue to exercise its regulatory and supervisory mandate to ensure compliance with applicable pension laws and regulations.
