Written by on March 27, 2019

President Muhammadu Buhari is set to launch the Micro Pension Scheme in Abuja.

The Micro Pension plan, which is an initiative of the National Pension Commission (PenCom) is aimed at the provision of pension services to self-employed persons in the informal sector and employees of organisations with less than three staff.

Reports from PenCom say that the informal sector constitutes an estimated 69 million work force in the country and represents an estimated 88 per cent of Nigerian workers that lack pensions and safety nets for their old age.

PenCom’s Head of Communications, Peter Aghahowa, said the formal launch would unveil the scheme in order to achieve the objective of the current administration in providing ample opportunities for financial inclusion and economic stability for more Nigerians in the informal sector.

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