PenCom lauds media for creating awareness on contributory pension scheme

Thu, Aug 25, 2022

2 MIN READ

Economy

THE Director -General of National Pension Commission (PenCom), Mrs Aisha Dahir-Umar, has commended journalists for creating awareness on the Contributory Pension Scheme (CPS).

She said this during the 2022 Journalists’ Workshop organised by the commission, in Abuja on Thursday.

Dahir-Umar, who was represented by the Head of Corporate Communications, Mr Abdulqadir Dahiru, said that the 2022 theme is: “ Increasing Informal Sector Participation in the Contributory Pension Scheme (CPS): The case for Micro Pension Plan.”

Dahir-Umar said that workshop was aimed at bolstering the coverage of the CPS.

“ The aim is to bring into the CPS Nigerians working in the informal sector and those who are self employed through the Micro Pension Plan (MPP).

“ It is of utmost importance to educate the media on the MPP and enlist your support to make the plan popular amongst informal sector workers and the self-employed,” she said.

Dahir-Umar, said there are three papers slated for presentation by the commission.

“The Micro Pension Plan: Bringing financial security at old age to the doorsteps of the informal sector, what you need to know about the investment of the micro pension fund (Fund V) and the administration of retirement benefits under the MPP,” she said.

Dahir-Umar said that the strategic efforts to drive the MPP remain one of the important areas of focus in the commission.

She said that the MPP was conceptualised to expand pension coverage to the informal sector, including small-scale businesses, entertainers, professionals, petty traders, artisans and entrepreneurs.

Dahir-Umar said that the MPP was implemented to curb old-age poverty by assisting the workers, to contribute while working and build long-term savings to fall back on when they become old.

She said that this would boost confidence in the participation of the MPP, adding that the commission was also strategising to provide incentives such as health insurance.

“ The commission is mindful of your critical role in disseminating factual information to its stakeholders.

“So, it is imperative to constantly interact and inform you of recent developments in the pension industry and some of the commission’s significant activities,” Dahir-Umar said.(NAN)

C.E