Photo caption from left: PenCom DG Ms. Omolara Oloworaran, Governor of Ondo State, Dr. Lucky Aiyedatiwa, CON and the D-G, Ondo State Pension Commission Mr. Babatunde Adefusi-Owate.
By Charles Okonji
As part of efforts geared towards repositioning and enhancing the state’s ongoing infrastructural revolution, the Ondo State Government has approached the pension funds for facilities.
Mr. Lucky Aiyedatiwa, Governor, Ondo State, stated this on Tuesday, 15 April 2025 when he received a delegation from the National Pension Commission (PenCom) led by the Director General, Ms. Omolola Oloworaran in Akure, on the mission to discuss critical pension reforms aimed at improving welfare for retirees and ensuring compliance with the Contributory Pension Scheme (CPS).
Governor Aiyedatiwa commended the critical role of pension funds in economic development, emphasising his administration’s commitment to the full implementation of the CPS in Ondo State.
According to him; “Ondo State Pension Commission (OSPEC) scored 72.44% in state pension compliance during the last Routine Inspection carried out by PenCom.”
He pointed out that his aspiration to improve the State’s pension compliance rating from its current composite score of 72.44% to 95% by the next inspection as challenged by the PenCom DG.
In her remarks, the PenCom DG proposed key amendments to the Ondo State Pension Law, including the introduction of a Minimum Pension Guarantee (MPG) to support indigent contributors and an Irrevocable Standing Payment Order (ISPO) to ensure consistent remittances by successive administrations.
Ms. Oloworaran, advocated for the integration of a Pension Compliance Certificate (PCC) as a mandatory requirement for business licensing, registration renewals, and contract awards within the State.
She noted that this measure aims to enhance compliance and accountability in pension remittances by employers.
Expressing concern on issues identified during the OSPEC inspection, the he PenCom called for prompt resolution to improve the State’s pension compliance rating.
