PENCOM concludes public enlightenment on micro-pension


The National Pension Com-mission (PENCOM) has elightens Nigerians on micro-pension, multi-fund structure, voluntary contribution and other issues under the Contributory Pension Scheme (CPS). The enlightenment was done at the just-concluded Lagos International Trade Fair.

PenCom’s Head of Corporate Communications Peter Aghahowa said the pension clinic was used to clarify pension-related matters that bother workers and retirees.

He said the pension clinic established at the Trade Fair was part of several initiatives that the commission embarked upon to sensitize and enlighten the public on the CPS.

“The Commission was at the Trade Fair to inform people on what the CPS is all about. It is part of the initiatives that the Commission has been bringing out to inform and educate the general public about pension schemes in Nigeria.

“We had a stand at the trade fair which we named the pension clinic and it created an avenue for people to come in and get enlightened and educated and also make enquires about pension related matters. So we usually seize opportunities like this to sensitize people about different aspects of pensions.

“Moreso, we have the initiative of the micro pension which we are working hard to launch come 2019. So it is another avenue to enlighten and inform people about that new initiative.

“The commission also came up with a guideline for voluntary contribution to align and streamline the process and procedures for voluntary contribution. Before now of course, even the formal sector has engaged in voluntary contribution which is an additional contribution to the statutory one.

‘‘The guideline streamlines the process of making and withdrawing contributions. It is expected to help the pension industry identify a uniform way of dealing with voluntary contribution transactions”, he concluded.

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