PenCom Proposes Bold Pension Reforms in Ondo, Urges Mandatory Compliance Measures
The National Pension Commission (PenCom) has urged the Ondo State Government to adopt key legislative reforms that will strengthen pension compliance and improve the welfare of retirees.
PenCom’s Director General, Ms. Omolola Oloworaran, made the call during a visit to Governor Lucky Aiyedatiwa in Akure on Tuesday, April 15, 2025. Among the proposed reforms is the introduction of a Minimum Pension Guarantee (MPG) to protect vulnerable retirees, and an Irrevocable Standing Payment Order (ISPO) to ensure uninterrupted pension contributions by successive administrations.
Ms. Oloworaran also recommended making the Pension Compliance Certificate (PCC) a compulsory requirement for business licensing, contract awards, and registration renewals in the state a move aimed at enhancing transparency and employer accountability.
She expressed concern over gaps identified during the recent routine inspection of the Ondo State Pension Commission (OSPEC), which scored 72.44% in pension compliance. The PenCom DG challenged the state to raise its rating to 95% by the next inspection.
In response, Governor Aiyedatiwa reaffirmed his administration’s commitment to fully implementing the Contributory Pension Scheme (CPS) and assured that the concerns raised would be addressed promptly.
The visit underscores PenCom’s ongoing efforts to drive comprehensive pension reform and promote sustainable retirement systems across Nigeria.
