Operators Plan Pension Account for Artisans

Operators in the Contributory Pension Scheme are putting in place measures that will help Nigerians in the informal sector to cultivate a savings habit and have retirement accounts. This was contained in a report on informal sector participation in the CPS, which was obtained from the National Pension Commission. “In the effort to encourage a…

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PENCOM To Go After Errant Employers

National Pensions Commission (PenCom) is about to go after employers that fail to remit deductions from their workers’ salaries into their Retirement Savings Accounts. PenCom’s DG, Dr. Chinelo Anohu-Amazu, who briefed President Buhari yesterday, said they are working with the police to ensure that it happens. The police will work with a department in the commission devoted to enforcement…

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PenOp to accommodate over 70m workers

Determined to accommodate the over 70 million workers that are presently outside the Contributory Pension Scheme (CPS), the Pension Fund Operators Association of Nigeria (PenOp) amongst other strategies has commenced training operators for the enrollment of workers from the informal, private and public sectors. A statement by the Executive Secretary PenOp, Ms Susan Oranye, noted…

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How Safe Is It To Have A Pension Plan In Nigeria?

Millions of Nigerians are heading toward defectively funded retirement, leaving a lot of them cynical about pension plans in the country and how the pension system works because they don’t want to lose their many years of labour to shylocks. Without sufficient income, mostly older adults who eventually rely on pension will lack the resources…

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