Pension Reforms: Edo Pays N469m as Premium for Employees’ Life Insurance Cover

September 6, 2020
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The Edo State Government has paid N469m as premium on the Group Life Insurance Policy for government employees in the state between 2017 and 2020, to ensure that relatives of the employees who die while in active service are catered for.

The Head of Service, Anthony Okungbowa Esq., who represented Governor Godwin Obaseki, said this when he presented cheques to relatives of employees who died in active service but were covered under the state’s Group Life Insurance Policy.

At the event, 12 next-of-kin of deceased state government employees who were beneficiaries of the State Contributory Pension Scheme, were paid N42,969,337.56, as a result of their being covered under the Group Life Insurance Policy.

Okungbowa noted that the state has resolved to ensure seamless implementation of the Contributory Pension Scheme for its workforce.

He said a lot of progress has been recorded with the Contributory Pension Scheme, adding “we have built confidence among the state employees with the consistent payment by government of its 10 per cent matching contribution and the payment of premium for the Group Life Insurance since the inception of the Scheme from 2017 to 2020. The state government has paid out a total sum of N469,979,909.00 as Premium for Group Life Insurance Policy in the state.”

He assured that the state government will continue to improve the welfare of its workforce through prompt payment of salaries and other remuneration accruing to them.

According to him, “As a government, we have always considered the welfare of our workers as top priority because we believe in them and consider them essential for the successes of our programmes and policies.”

Speaking on behalf of other next-of-kin, Ehi-Imusi Abumere, expressed appreciation to the state government for the quick response in paying entitlements of the deceased employees.

The Contributory Pension Scheme commenced in January 2017, providing a robust framework for the smooth administration of the pension system in the state.

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