Policy Briefs
Selonnes Consult Policy Tidbits: State Defaulting on PENCOM Contribution Tantamount to administrative and governance crisis.
As thirty-five states are trying to renegotiate their N614bn debt obligation to FGN, the National Pension Commission (PENCOM) has disclosed that only seven (7)out of 36 states are current with their statutory remittance of pension fund deducted from salaries of their employees, as well as their matching contributions. The compliant states are: Delta, Edo, Ekiti, Jigawa, Kaduna, Lagos and FCT. South East states, Anambra and other Southeast states were listed among the defaulting states. Since pension is a right and not a privilege, it borders on the breach of the law to collect pension and not remit it as stipulated. For a critical mass of 29 states to be in default speaks to an administrative and governance crisis. [SCPT]
