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Chuks Udo Okonta
Ondo State Government has commenced implementation of the Pension Reform Act 2014 in phases, Inspen has learnt.
The Director-General Ondo State Pension Commission Jaiyeola Olowosuko, disclosed this in an interview, adding that the first phase has commenced with employees employed in 2014.
He noted that full implementation will commence soonest, adding that necessary arrangements have been made to ensure smooth running of the scheme.
It would be recalled that the state constituted it scheme last year and appointed 12 Pension Fund Administrators (PFAs) to manage the contributed funds.
The PFAs considered include, Oak Pensions Ltd, Trust Fund Pensions, PAL Pensions Ltd, Arm Pensions, Premium Pension Ltd, Legacy Pensions and others.