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PenCom seeks amendment to Ondo Pension Law

The DG visited the Ondo State Governor to discuss pension reforms aimed at enhancing retiree welfare and ensuring compliance with the Contributory Pension Scheme (CPS).

She proposed amendments to the Ondo State Pension Law, including a Minimum Pension Guarantee (MPG) to protect vulnerable retirees and an Irrevocable Standing Payment Order (ISPO) to ensure consistent pension remittances across administrations.

She also recommended making a Pension Compliance Certificate (PCC) mandatory for business licensing, contract awards, and registration renewals to boost employer accountability. She highlighted concerns from OSPEC’s recent inspection, urging swift action to improve compliance.

Aiyedatiwa assured PenCom that Ondo State would address most of these issues before the next inspection, reinforcing his administration’s focus on retiree welfare and economic development through pension fund utilisation.




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