PenCom says 32 States Yet To Initiate Group Life Insurance

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By Gladys Eze

The National Pension Commission (PenCom) has disclosed that 32 out of the 36 states in the country are yet to initiate group life insurance for their workers.

While PenCom, in its report, disclosed that only Lagos, Osun, Rivers and Niger states had commenced implementation of the scheme, the commission noted that in line with its implementation plan of the contributory pension scheme, a 12 to 18 months roadmap has been developed for the engagement of labour unions; state employees; state government officials and other stakeholders, to positively influence state compliance.

It maintained that to ensure smooth implementation of the action plans in the roadmap, technical supports and guidance would continue to be given to all states in the area of actuarial valuation; employment verification; evolving valuable funding plans for implementation of the contributory scheme; registration of employees and information and technology integration.

PenCom, emphasised that it has held engagement meetings with the Head of Service and Labour Unions of Enugu; Imo; Akwa-Ibom and River States in this regard.

The Commission, however, said implementation meeting was also held with the executive Secretary of the Zamfara State Pension Board and recently with Gombe State Government.

Meanwhile, Eddie Efekoha, Chairman of the Nigerian Insurers Association (NIA), worried by the poor implementation of the compulsory insurances, told our correspondent that his association had vowed to ensure that all compulsory insurances are enforced to the rule of the game.

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