By Monsur Olowoopejo
DEPUTY Governor of Lagos state, Mrs. Adejoke Orelope-Adefulire, former chairman of Punch Newspaper, Chief Ajibola Ogunshola and other stakeholders have blamed lack of total acceptance of the Contributory Pension Scheme, CPS on certain misconception about the new scheme.

They however, urged the National Pension Commission, PenCom, to intensify its routine check on both public and private organisation to save the nation of another Police pension fund misappropriation which could occur from non-remittance of pension deductions by employers.

It will be recalled that the Federal Government in 2004 enacted the Pension Reform Acts, PRA aimed at ameliorating the suffering of retirees in the country. They spoke at a public presentation of the book titled ‘The contributory pension scheme and its administration: including death benefit payment, trust and wills,” written by Dr. Tonia Smart, held at the Nigeria Employers Consultative Association, NECA House, Ikeja, Lagos.

According to the Deputy Governor “The new pension scheme is a very interesting subject matter because it has to do with welfare of the employees. And it is a very simple antidote to the complexities involve in accessing pension after retirement in the old scheme tagged ‘pay as you go.

But unfortunately, eight after the PRA was enacted, some aspect of the new pension scheme are still not clear to larger percentage of employers of labour in Nigeria. Although, several papers and articles have been written on the new scheme since its introduction in 2004, but there has not been a conscious effort to provide a comprehensive book that will further enlighten employers of labour in the country on the benefits of the pension scheme.”