Nigeria. PenCom to provide health insurance for micro pension contributors
The National Pension Commission (PenCom) says it is planning to provide incentives to contributors under the micro pension plan (MPP).
The commission said incentives such as health insurance would increase participation in the scheme.
Aisha Dahir-Umar, director-general of PenCom, said this at a recent workshop for journalists in Abuja.
Dahir-Umar said the MPP was implemented to curb old-age poverty by assisting informal sector workers, including small-scale businesses, entertainers, professionals, petty traders, and others.
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“Strategic efforts to drive the micro pension plan remain one of the important areas of focus of the commission.
“To boost confidence in the participation of the MPP, the commission is strategising to provide incentives such as health insurance.”
Dahir-Umar said that the revised regulation on the administration of retirement and terminal benefits, which the commission recently issued to pension fund administrators (PFAs) for immediate implementation, would ensure prompt payment of benefits to retirees.
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