The Conference of Civil Society of Nigeria commends the National Pension Commission (PENCOM) for Micro -Pension, adding that it will deliver valuable benefits to Citizens in the informal sector.
Addressing a Press Conference in Abuja, Wednesday, Chairman of Conference of Civil Society of Nigeria, Comrade Adams Otakwu, said Micro-Pension Scheme will have an exponential impact on microeconomic growth in the country.
Otakwu explained that “as part of the Micro-Pension sensitization embarked upon by the Conference of Civil Society of Nigeria, we convoked the Civil Society Roundtable on Micro-Pension and came out with the following: The current Micro Pension scheme of the National Pension Commission (PENCOM) under the visionary leadership of Hajiya Aisha Umar is well structured to deliver valuable benefits to Citizens in the informal sector with regards to their old age conditions.
“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, he noted.
Chairman of the CSO said “we note the commitment of the current management of PENCOM to reinvigorate Micro-Pension Education at the Grass root across Nigeria, that will have an exponential impact on microeconomic growth in the country.
He continued “we note further that over 60% 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
“Given this Micro-Pension Scheme Strategy by the current management of PENCOM, a vast population of citizens in the informal sector are willing to enrol in the Micro-Pension Scheme.
“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.
“The Nigerian Civil Society commits to rally massive enrolment of members of the informal sector into the Micro-Pension Scheme of PENCOM.
“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.
“We reiterate that if the current drive by the current Management of the National Pension Commission PENCOM to revamp the Pension Industry is sustained, the Pension Industry will be a major bolster of the national economy in this COVID 19 era and Nigeria’s future “.