PENCOM begins registration of traders, others into pension scheme
The Nigerian Pension Commission (PENCOM) has begun registering the Edo State workforce in the informal sector into its Personal Pension Plan (PPP) with a view to securing their future. Those
The Nigerian Pension Commission (PENCOM) has begun registering the Edo State workforce in the informal sector into its Personal Pension Plan (PPP) with a view to securing their future.
Those enrolled were selected from markets in the seven local government areas that make up Edo South Senatorial District.
The Commission promised to match amounts paid by enrolees up to N20,000 as an incentive.
Director General of PENCOM, Omolola Oloworanran, said the Commission deliberately fixed the scheme's launch in March to coincide with International Women's Day.
Represented by the National Commissioner of Finance in the Commission, Dr Charles Emukowhate, Oloworanran, Omolola commended President Bola Tinubu for approving payment of N758 billion to clear arrears of pensions and gratuities.
She said the Commission is mobilising and sensitising women on the benefits of the PPP, adding that men in the informal sectors could also enrol.
"Specifically targeted are those in the informal sectors or professionals who employ or may only work with themselves or one other person.
"We are providing a match for up to 20,000 Naira. It is also because of the renewed hope agenda of President Bola Ahmed Tinubu, who himself has the initiative and also the bold step of paying all accrued outstanding pension up to the tune of N758 billion that had been outstanding for many years."
"Women are mostly traders. They work hard and sometimes forget to take care of themselves. So this is a reminder that they should key into the personal pension plan and start making small savings so that at retirement, they can fall back on that.
"That is why we are saying save small today and gain big tomorrow. You cannot guarantee or depend on your family. The only person you can truly depend on is yourself to take care of yourself."
Governor Monday Okpebholo, who declared the programme opened, said his administration has keyed into the initiative because it benefits the downtrodden, local market people, and artisans.
