Nigerians in informal sector charged to enrol in PENCOM’s micro pension scheme

Nigerians in informal sector charged to enrol in PENCOM's micro pension scheme

Nigerians in the informal sector have been counselled to enrol into the Micro-Pension Scheme of National Pension Commission, PENCOM, to guarantee a fulfilled retired life.

Youths, artisans, small and medium scale entrepreneurs have been particularly urged take advantage of the scheme to save for the raining day.

Addressing journalists in Abuja on Wednesday, chairperson of  Conference of Civil Society of Nigeria, Comrade Adams Otakwu, noted that the current Micro Pension scheme of PENCOM under the leadership of Hajiya Aisha Umar is well structured to deliver valuable benefits to citizens in the informal sector.

“We commend the effective and robust regulation of the Nigerian pension industry in the last four years, as well as the uncommon drive by the National Pension Commission under Aisha Umar and the PENCOM management team to boost micro pension in Nigeria.

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“We note the commitment of the current management of PENCOM to reinvigorate micro-pension education at the grassroots across Nigeria, that will have an exponential impact on microeconomic growth in the country

“We note further that over 60 per cent of citizens in the informal sector who are unawares or ill-informed on the micro-pension are currently being targeted for enlightenment by the Micro Pension Scheme of PENCOM.”

He noted that a good number of players in the  informal sector are willing to enrol in the Micro-Pension Scheme, adding, “We see a visible determination by the National Pension Commission under her current management to scale up sensitization on the benefits, essence and impact of Micro-Pension as a remedy for old age miseries.”

Otakwu expressed the readiness of civil society organizations to scale up awareness on the importance of enrolling in the scheme.

“We call on Nigerian youths, artisans, small and medium scale entrepreneurs, and members of the informal sector to enrol en-mass in the Micro-Pension Scheme of PENCOM in order to ensure befitting retirement and old age lives.

“Beyond the ongoing prospect and success of the Micro-Pension Scheme by PENCOM under Aisha Umar and her management team, we have seen growth in pension assets, timely payment of retirement benefits and rapid enhancement of social safety net stimulated through the pension industry,” he said.

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