Jigawa State, like many others, faces challenges in maintaining sustainable state and local government contributory schemes. However, a recent decision to employ 3,000 J-TEACH and 1,224 J-HEALTH beneficiaries into permanent and pensionable jobs by governor Namadi has the potential to significantly improve these schemes. This article explores the multifaceted benefits of this initiative and its potential to transform the contributory schemes in Jigawa State.
Strengthening the Workforce:
The employment of 3,000 J-TEACH and 1,224 J-HEALTH beneficiaries will strengthen the state and local government workforce. These new employees will bring fresh perspectives and skills, enhancing the quality of services in the education and health sectors. Additionally, a larger workforce will enable better coverage and improved service delivery, which can attract more individuals to participate in the contributory schemes.
Expanding the Contribution Base:
With more employees contributing to the contributory schemes, there will be a significant expansion of the contribution base. This increase in contributions will help offset the current deficits in the schemes and improve their long-term sustainability. Furthermore, a larger contribution base will reduce the burden on current contributors, leading to a more equitable and sustainable system.
Improving Financial Stability:
The employment of 3,000 J-TEACH and 1,224 J-HEALTH beneficiaries will have a positive impact on the financial stability of the contributory schemes. The additional contributions from these new employees will bolster the financial resources of the schemes, ensuring that they can meet their obligations to current and future retirees. This improved financial stability will instill confidence in the schemes and encourage more individuals to participate.
Enhancing Social Welfare:
By providing 3,000 J-TEACH and 1,224 J-HEALTH beneficiaries with permanent and pensionable jobs, the contributory schemes will enhance social welfare in Jigawa State. These beneficiaries will have access to stable employment, which will improve their standard of living and contribute to poverty reduction. Additionally, the schemes will provide a safety net for retirees, ensuring that they can live comfortably after leaving the workforce.
The decision to employ 3,000 J-TEACH and 1,224 J-HEALTH beneficiaries into permanent and pensionable jobs has the potential to transform the state and local government contributory schemes in Jigawa State. By strengthening the workforce, expanding the contribution base, improving financial stability, and enhancing social welfare, this initiative will not only benefit the schemes but also contribute to the overall development of the state. It is a step in the right direction towards building a more sustainable and inclusive contributory scheme that meets the needs of all stakeholders.
-Mallam Garba Al-Hadejawy FIMC, FCAI
09/05/2024
