Micro Pension Plan (MPP) targeted at providing a retirement package for larger Nigerians in the informal sector has seen a spike in the last two months in increased awareness.
According to the National Pension Commission (PenCom), no fewer than 84,000 artisans, entrepreneurs and players in the informal sector of the nation’s economy have subscribed to the Micro Pension Plan (MPP).
Micro Pension Plan, which was established through the Provisions of Section 2(3) of the Pension Reform Act (PRA) 2014, aims at ensuring that the informal sector participants save towards their old age, as this category of workers constitutes a large percentage of the working population in the country.
Dauda Ahmed, head of, the Micro Pensions department at PenCom speaking on the scheme during the Lagos International Trade Fair held in Lagos said the commission was at the event to enlighten Nigerians on the benefits of micro pension.
He also disclosed that, “about 84,000 people have registered for the micro pension plans and in the last two months, we have seen a spike in enrollment basically, because of the increased awareness.”
The Trade fair, he said, is one of the strategies the commission is using to sustain the momentum on micro pension, while also using the media as a partner to reach out and enlighten the masses on its benefits.
