The National Pension Commission ( PenCom), has stated that only five states have insurance coverage for workers, despite the requirement in the Pension Reform Act of 2014, adding that 31 states of the federation have no insurance coverage in place for workers as of March 2021. 
The states in accordance with PenCom’s provisions with pension plans for their workers are Lagos, Osun, Ondo, and Edo. 
The Commission, in a statement made available to The Tide, stated that, “the lack of insurance demonstrates that when the private sector ignores group life insurance, it is basically following in the footsteps of state governments. 
“Normally, state governments would be expected to uphold laws, but their actions have demonstrated a disregard for the law and its workers. 
“Furthermore, insurance benefits are not just for the employees but also the management, that is, the government. It is to ensure that the families of those who work with them are safe regardless of what happens”. 
According to the Commission, the figures acquired from PenCom’s ‘Status of implementation of the CPS in states as at March 2021’ indicated that just five states including the Federal Capital Territory had an insurance cover for it’s employees. 
Recall that Section 4(5) of the PRA 2014, provides that “every employer shall maintain a Group Life Insurance Policy in favour of each employee for a minimum of three times the annual total emolument of the employee and premium shall be paid not later than the date of commencement of the cover”. 
1.2.2 Section 4(6) also provides for situations “where the employer failed, refused or omitted to make payment as and when due, the employer shall make arrangement to effect the payment of claims arising from the death of any staff in its employment during such period”. 
1.2.3 Section 8(1) of the PRA 2014 provides that “where an employee dies, his entitlements under the Life Insurance Policy maintained under this Act shall be paid by an underwriter to the named beneficiary in line with Section 57 of the Insurance Act”. 
1.2.4 Section 9 of the PRA 2014 provides that “where an employee is missing and is not found within a period of one year from the date he was declared missing, and a board of Inquiry set up by the Commission makes a determination that having regards to available information and all relevant circumstances, it is reasonable to presume that the employee is dead, the provisions of Section 8 shall apply”