The National Pension Commission (PenCom) says the Micro Pension Plan (MPP) contributions as at May stood at N435.61 million from 97,591 participants registered.
Mr Dauda Ahmed, Head, Micro Pension Department, PenCom, revealed this on the sidelines of the maiden Micro Pension Open Day, organised by the Pension Operators Association of Nigeria (PenOp) in Lagos.
The event had its theme as “Micro Pension – Challenges, Prospects for Growth and Deepening Financial Inclusion in Nigeria”.
Ahmed said that the total contingent withdrawal by 150 Micro Pension Contributors (MPC) as at the month under review stood at N30.24 million.
According to him, the commission recorded N6.51 million as the amount converted by 581 Retirement Savings Accounts (RSAs) holders, under the informal sector to RSA’s under the formal sector.
The PenCom scribe explained that the MPP is an opportunity for workers, who are mainly under the informal sector to save for their retirement.
Ahmed…
Source: Vanguard Newspaper
