The National Pension Commission has said that it is working on plans to make the micro pension scheme attractive to self-employed professionals and other players in the informal sector.
This was stated during the Special Day event of the National Pension Commission at the Lagos International Trade Fair which was held at the Tafawa Balewa Square, Lagos Island on Friday.
The Pension Reform Act 2014 expanded coverage of the CPS to the self-employed and persons working in organisations with less than three employees.
The micro-insurance initiative seeks to cover low-income earners, high-income earners, and Small and Medium Enterprises in the informal sector.
The special day served as a public sensitisation on the inclusion of the informal workers and the self-employed under the Contributory Pension Scheme through the Micro Pension Plan.
Speaking with journalists at the event, the Head of the Micro Pension Department, PenCom, Babatunde Alayande, explained that the Micro Pension Plan is not just for the informal sector, but also for self-employed professionals such as self-employed lawyers, town planners, engineers, among others.
