8.41m Nigerians participating in pension scheme —PenCom

The National Pension Commission (PenCom) has put the number of Nigerians presently  participating in the country’s pension scheme at about 8.41 million.

The Commission made this known in its Pension Fund Assets Summary for  December 2018 released to newsmen on Wednesday.

According to the Commission’s spokesman, Peter Aghoghowa, more Nigerians would key into the scheme through the soon to be launched Micro Pension Scheme.

PenCom said the Micro Pension Scheme was designed to attract self-employed Nigerians with irregular income and the financially uninformed to pension plan.

The Commission posited that the scheme, which would be formally launched later in this first quarter, is expected to grow contributors and accumulate over  N3 trillion by 2024.

“We have no idea of the number of Nigerians that would key in at the launch of the scheme. However, we intended covering the entire informal sector over time; this would be about 60 million citizens,” the Commission said.

It further stated that total pension assets soared to N8.50 trillion at the end of 2018.

The post 8.41m Nigerians participating in pension scheme —PenCom appeared first on The Sun Nigeria.

Source: news

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