Over 84,000 Nigerians enrolled in micro pension – PenCom

The National Pension Commission (PenCom), yesterday, said that over 84,000 Nigerians have enrolled in the ongoing Micro Pension plan.

This was even as the commission reiterated that it would continue to embark on massive awareness to ensure more Nigerians keyed into the initiative.

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The head, Micro Pension at PenCom, Dauda Ahmed, disclosed this to newsmen at the ongoing Lagos International Trade Fair organised by the Lagos Chamber of Commerce and Industry (LCCI).

Ahmed revealed that over 84,000 Nigerians have registered for the initiative while adding that there has been a huge spike in enrollments in the last two months.

He explained that about 90 per cent of workers in Nigeria were in the informal sector and most of them do not have pension protection for old age, adding that with the increase in people living long, there is a risk of old age and poverty.

He, however, noted that in addition to improving the standard of living of the self-employed on retirement, the micro pension scheme secures financial autonomy and independence of retirees.

“With the new scheme, it means that celebrities, accountants, architects, lawyers, artisans, traders, stylists, farmers and more can now contribute for their pension. The responses have been quite encouraging and we hope to sustain and build on the momentum.

“This is just one of our strategies and we will complement our strategies by reaching out to people who we haven’t gotten across to and also via media awareness as well as union leaders and association”, Ahmed said.

Corroborating him, the head, South West Zonal Office of PenCom in Lagos, Tunde Alayande, said Lagosians were embracing the initiative, while adding that the commission would provide an enabling environment for PFAs and participants to thrive together.