The National Pension Commission (PenCom) has revealed that a total of 95,045 participants have contributed N436 million under the Micro Pension Plan (MPP) as of April 2023.
Director General of PenCom, Mrs Aisha Dahir-Umar, made the disclosure over the weekend in Lagos during the Micro Pension Open Day organised by the Pension Operators Association of Nigeria (PenOp).
The Micro Pension Plan (MPP) was introduced by PenCom and launched in 2019 by former president Muhammadu Buhari to help traders, artisans and other self-employed Nigerians to save money for their retirement.
“As of April 2023, the total number of registered micro pension participants stood at 95,045 with a total value of the MPP Fund of N435.61m.
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“It is, however, clear that more needs to be done to achieve the desired outcome of extending coverage to workers in the informal sector with an estimated 50 – 75 million workers,” she said.”
