Micro Pension Plan (MPP); the newest product introduced by the National Pension Commission (PenCom), is targeting about 30million enrolees from the informal sector by 2024.
The scheme, recently launched by President Muhammadu Buhari, is expected to significantly expand pension coverage to greater number of Nigerians and further generate additional long term funds for the nation’s economic development; .
Speaking at the Commission’s stand at the ongoing 30th Enugu International Trade Fair in Enugu, yesterday, Peter Aghahowa, Head, Corporate Communication of the Commission, described the MPP as a product, specially designed for people who do not have regular income; noting that it is flexible with respect to contribution amount and the channel of remittance of contributions to the respective pension accounts.
He explained that access to accumulated contributions is also flexible, seamless and facilitated by technology through varied payment system platforms.