The Edo State Government has assured pensioners recently migrated from the Contributory Pension Scheme (CPS) to the Defined Benefit Scheme (DBS) that their eight per cent contributions will be refunded.
The Permanent Secretary, Edo State Pension Bureau, Mr Washington Abbe, gave the assurance during an interaction with journalists in Benin City.
Abbe said workers’ contributions under the CPS would be refunded, while the 10 per cent matching contributions by the state government would be returned to the government and used to settle outstanding pension liabilities.
On the delay in remitting CPS contributions, last made in January 2025, Abbe attributed it to a new payment arrangement introduced by the National Pension Commission (PenCom).
He said states are now required to reconcile employees’ Personal Identification Numbers (PINs) before contributions can be processed through a designated intermediary to prevent loss or misallocation of funds.
Abbe said Edo’s funds were ready for remittance but the government was awaiting PenCom’s assurance on the safety of the funds before proceeding.
He reaffirmed the government’s commitment to a transparent transition that protects the interests of affected workers and pensioners.
