Nigeria’s pension fund calls authority to increase coverage
The Interim Chairman of the Management Committee of the First Guarantee Pensions Limited Comrade Issa Aremu has called on the new management of the National Pension Commission (Pencom) to increase contributory pension scheme enrollment figure. He made this call at a news conference in Abuja.
Aremu, who is also the General Secretary of National Union of Textile, Garment and Tailoring Workers of Nigeria, noted that the current enrolment of less than seven million subscribers in the National Pension Commission was inadequate compared to the over 80 million workers in the country.
He said: “The over six million workers already captured under the reform is commendable. But this number is a far cry from over 80 million potential work force in Nigeria.
“The N6.5 trillion funds contributed so far can hardly meet the future income adequacy of retirees, which underscores the need for an intensified effort on the part of the incoming leadership.”
Full Content: The Nation
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