Wednesday, June 12, 2024
Home Business A TOTAL OF 95,045 PARTICIPANTS HAVE CONTRIBUTED N436 MILLION UNDER THE MICRO...

A TOTAL OF 95,045 PARTICIPANTS HAVE CONTRIBUTED N436 MILLION UNDER THE MICRO PENSION PLAN (MPP)- PENCOM DG

 

The National Pension Commission (PenCom) has revealed that a total of 95,045 participants have contributed N436 million under the Micro Pension Plan (MPP) as at April 2023.

Director General of PenCom, Aisha Dahir-Umar, made the disclosure during the Micro Pension Open Day organised by the Pension Operators Association of Nigeria (PenOp) in Lagos.

The DG says, the MPP initiative will help to promote economic growth by providing a stable source of income for retirees and reduce old-age dependency, thereby causing a reduction in the poverty rate.

The PenCom boss said, the Commission has recorded some modest success in its efforts to extend pension coverage to the informal sector.

Adding that there is need for more to be  done to achieve the desired outcome of extending coverage to workers in the informal sector with an estimated 50 – 75million workers.

The MPP was formally launched in March 2019 by the former President of the Federal Republic of Nigeria, Muhammadu Buhari, as part of the Commission’s efforts to expand pension coverage to workers in the informal sector.

 

RELATED ARTICLES

LICENSE REVOCATION : CBN COUNTERS CLAIM OF MORE LICENCE REVOCATION.

The Central Bank of Nigeria (CBN) has reassured members of the banking public of the safety of their deposits and the banking system's resilience....

SON HOSTS MEETING WITH OPERATORS OF THE SPECIAL ECONOMIC ZONES. 

The Standards Organization of Nigeria (SON), hosted operators of the Special Economic Zones to discuss grey areas surrounding the implementation of the Special Economic...

NSDC BOSS ASSURES THAT THE ONGOING REFORMS WILL UNLOCK THOUSANDS OF JOBS IN SUGAR INDUSTRY.

The Executive Secretary/CEO of the National Sugar Development Council (NSDC), Kamar Bakrin, has assured that the ongoing reforms by the Council and expansion plans...

Most Popular

NNPC LTD.,GOLAR LNG, SIGNS PDA ON 400-500MMSCF GAS DEAL.

In furtherance of its commitment to monetize Nigeria's vast natural gas resources, the NNPC Limited has executed a Project Development Agreement (PDA) with Golar...

CHIEF OF ARMY STAFF DIRECTS  IMMEDIATE INVESTIGATION OF INCIDENT AT COMMAND SECONDARY SCHOOL IYANA IPAJA.

In response to the recent concerns raised by the Association of Senior Civil Servants of Nigeria (ASCSN) regarding the treatment of civilian workers at...

LICENSE REVOCATION : CBN COUNTERS CLAIM OF MORE LICENCE REVOCATION.

The Central Bank of Nigeria (CBN) has reassured members of the banking public of the safety of their deposits and the banking system's resilience....

SON HOSTS MEETING WITH OPERATORS OF THE SPECIAL ECONOMIC ZONES. 

The Standards Organization of Nigeria (SON), hosted operators of the Special Economic Zones to discuss grey areas surrounding the implementation of the Special Economic...

Recent Comments