Ondo State govt appoints 12 PFAs, Director General

Mimiko

Chuks Udo Okonta

The Ondo State Governor, Dr Olusegun Mimiko, in a bid to ensure immediate implementation of the Contributory Pension Scheme (CSP) has approved the appointment of 12 Pension Fund Administrators (PFAs) and Jayeola Olowosuko, as pioneer Director-General for the state pension commission.

The Head of Service, Toyin Akinkuotu, who is also the chairman, state implementation committee on the contributory pension scheme, disclosed this at a media parley in Akure.

He noted that the PFAs that would commence the first phase of the scheme are: Oak Pensions Limited; Trust Fund Pensions; PAL Pensions Limited ARM Pensions Limited; Premium Pensions Limited and Legacy Pensions Limited.

Others are APT Pension Managers Limited; Pension Alliance Limited; LNPC Pension Fund Administrators Limited; Leadway Pensure PFA Limited; Sigma Pensions Limited and Fidelity Pension Limited.

Akinkuotu said the other PFAs not appointed are on the waiting list and will hopefully be engaged by the government as the implementation progresses.

Olowosuko, is a first class graduate of Obafemi Awolowo University, becomes the chief Executive Officer of the newly established scheme and his appointment is subject to the confirmation by the State House of Assembly.

The HOS said the contributory pension scheme will no doubt rejuvenate economic activities of the state and bring smiles to the faces of retiring workers captured by the scheme.