The National Pension Commission (PENCOM) on Friday said development of micro pension would guarantee the future of Nigerians in the informal sector.
Mr Polycarp Anyanwu, Head, Micro Pension Department, PENCOM, stated this at the 2016 edition of Pension Operators (PenOp) seminar for Insurance and Pension Correspondents in Lagos.
The News Agency of Nigeria (NAN) reports that PenOp was established in 2009 and presently has 32 pension fund operators.
Anyanwu, who was represented by Mr Chioma Orjiako of Micro Pension department, said that micro pension was developed to alleviate the sufferings of the informal sector and older Nigerians.
“As we speak, over 70 per cent of Nigerians are not covered in pension scheme.
“The scheme inculcates citizens that are traders, artisans, company workers, movie makers, beauticians and lots more.”
Anyanwu said that the commission was assiduously working on guidelines that would govern the operations of the scheme.
He said, “Although the guideline is yet to be finalised and released, because the commission is taking input from stakeholders, we assure all that the guideline will give flexible.
“This category of pensioners could draw from the contribution any time, though that does not make it a savings account.” (NAN)
NEWS EXPRESS is Nigeria’s leading online newspaper. Published by Africa’s international award-winning journalist, Mr. Isaac Umunna, NEWS EXPRESS is Nigeria’s first truly professional online daily newspaper. It is published from Lagos, Nigeria’s economic and media hub, and has a provision for occasional special print editions. Thanks to our vast network of sources and dedicated team of professional journalists and contributors spread across Nigeria and overseas, NEWS EXPRESS has become synonymous with newsbreaks and exclusive stories from around the world.
