By Victor Ahiuma-Young 

The National Pension Commission, PenCom, has reaffirmed its commitment to ending pension payment delays and strengthening collaboration with the judiciary in advancing Nigeria’s pension reform agenda.

Director-General of PenCom, Mrs. Omolola Oloworaran, made this known at a Sensitisation Workshop on the Contributory Pension Scheme, CPS, for Judges of the National Industrial Court of Nigeria, NICN, held in Abuja.

Oloworaran, who was represented by the Acting Commissioner, Administration, Mr. Bello Malabu, said the engagement was aimed at deepening understanding and resolving issues between the judiciary and the pension industry.”Significant progress has been made over the past 20 years, although challenges persist, particularly in the areas of accrued pension rights, delayed remittances, and transition issues affecting some judicial officers

“Through the intervention of President Bola Tinubu, the Federal Government now pays retirement benefits of Treasury-funded Ministries, Departments, and Agencies, MDAs, when due. “The commission has opened discussions with the National Judicial Council, NJC, to resolve pending issues relating to accrued benefits of some judges who transitioned into the CPS before their elevation to the Bench,” she said.

Oloworaran assured that all such matters would be handled fairly and transparently, commending judges for their objectivity in handling pension-related cases. 

She stressed that continuous judicial education on pension law and policy remained essential for deepening jurisprudence and ensuring fair adjudication.

The PenCom DG also unveiled the Personal Pension Plan, PPP, a rebranded voluntary pension product designed to promote flexibility and inclusiveness for professionals, self-employed persons, and individuals in non-traditional employment.

“Permit me to share with you the benefits of a unique pension product recently rebranded by the Commission PPP. This product complements the mandatory CPS by offering greater flexibility and inclusiveness.

“The PPP is designed to cater for individuals who may not be covered under the mandatory scheme, including professionals, self-employed persons, individuals in non-traditional employment arrangements, and those seeking to make voluntary contributions.

“We earnestly urge all Justices and Judges of all Superior Courts in Nigeria who are exempted from the CPS to consider participating in the PPP as a means of enhancing your retirement security and that of your dependents,” she said.

Oloworaran emphasised that as custodians of justice, the welfare of judges was paramount to PenCom’s reform objectives. 

She also launched the first volume of the Pension Law Report, a compendium of landmark judgments on pension matters delivered by the NICN and other courts, and commended NICN President, Justice Benedict Kanyip, for his leadership and commitment to sound pension jurisprudence.

Justice Kanyip, in his remarks, called for a comprehensive reassessment of political pensions and severance packages, describing them as inconsistent with social justice and the true spirit of public service.

“It is not morally right to pay an elected public officer or political appointee pension and gratuity for holding such an office for three to eight years.

“Any law that provides for the payment of pension and gratuity to such office holders lacks moral justification, promotes social injustice, and cannot be democratic.

”Kanyip also highlighted systemic challenges in Nigeria’s pension landscape, including poor enforcement, non-remittance of contributions, inadequate coverage, and delays in benefit payments.

“Only about 10 per cent of Nigeria’s working population is covered by formal pension schemes.”

“To ensure sustainability, PenCom must tighten compliance mechanisms, impose stricter penalties on defaulting employers, and explore digital systems to improve transparency and payment efficiency.”

He reaffirmed that the CPS remains a vital framework for protecting workers’ post-employment rights but must continually evolve to maintain fairness and effectiveness

Also speaking, the President of the Pension Fund Operators Association of Nigeria, PenOp, Mr. Godson Ukpevo, said the workshop provided a platform for reflection and review of the successes and challenges of the pension system.

“The legal and institutional framework remains one of Nigeria’s most successful public policy innovations. It has restored confidence in retirement planning, created millions of contributors, and grown pension assets to over N25 trillion, representing a substantial pool of long-term domestic capital,” Ukpevo stated.

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