No fewer than 324 Workers under the Contributory Pension Scheme (CPS) in Ondo State are without Personal Identification Number (PIN) or having some other anomalies.
In a circular signed by the Permanent Secretary/DG of Ondo State Pension Commission, Mr O.S Akingbasote, this runs against the dictate of the State Pension Law 2014 (as amended).
“From the over 7,200 Workers under the Ondo State CPS, at least 324 as at September, 2022 are without PIN and some have issues that have made it impossible to credit their Retirement Savings Accounts (RSAs).”
“Their contributions have therefore remained in Escrow or suspense accounts, rather than go into their (RSAs). This is preventing them from having the necessary Returns On Investments (RoI)”.
“In addition, some of the employers have not maintained Life Insurance Policy for their employees. Evidently, these are against the spirit of the law guiding the Ondo State CPS, the National Pension Law and Mr Governor’s REDEEMED Agenda.”
Affected workers are therefore enjoined to “sort out the issues by visiting the Commission and proceed to their respective PFAs on or before 15th February, 2023, else they may be declared as “ghost.”
See Ministries, Departments and Agencies Affected
