The Godwin Obaseki-led government in Edo State has paid N81, 169, 724. 24 million to the families of 34 deceased employees of the state government who were enrollees of the Contributory Pension Scheme, CPS.
The government said this “far-reaching reform” was in furtherance of its commitment to the welfare and wellbeing of workers.
A statement released by the special adviser to the governor on media and communication strategy, Crusoe Osagie said this figure was contained in a report released by the Edo State Pension Bureau. According to the bureau, another, 36 deceased employees had received death benefit entitlements to the tune of N 177,886,339.18 under the Defined Benefit Scheme till date.
“The state government also paid Group Life Insurance premium for Edo State Public Service workers to a Group Life Insurance Firm, Tangerine Life Insurance Limited, for years 2017 and 2018. This is for those who have transitted to the CPS. The sum of N80, 713,446.34 was paid as premium for 9,803 Edo State employees in the CPS.
“With this payment made, the next-of-kin of deceased employees receives three times their gross annual salary as benefits. From the commencement of the CPS on January 1, 2017 till date, a total sum of N 81,169,724.24 has been paid to families of 34 deceased employees of the State Public Service who were enrollees of the CPS,” the Report said.
It added that: “For years 2018-2019, the Group Life Insurance premium for the employees under the CPS was renewed for the sum of N215, 089,034.75 for 10,310 employees of the state public service in the CPS.
“For year 2020, the State has renewed the Group Life Insurance premium for 10,884 employees of the State Public Service in the CPS for the sum of N174, 177,428.71.”
The bureau explained that “The State Government exercised political will and has been committed to the payment of pension arrears, monthly pension, death benefits under the Defined Benefit Scheme and its 10 percent matching contributions into the Employees RSA in compliance to the provisions of the Edo State Contributory Pension Scheme Law of 2010 as amended.”