August 22, 2018

Fed Govt to float pension scheme for self-employed individuals

Fed Govt to float pension scheme for self-employed individuals

PLANS are afoot to extend the pension scheme beyond the formal public and private sectors. The Federal Government is planning to organise a micro-pension scheme for thousands of artisans, self-employed accountants and lawyers, among others.

The proposed scheme, according to National Bureau of Statistics (NBS), underscores the government’s conviction that the informal sector remains a critical part of the economy. According to statistics, the sector which accounts for over 70 per cent of the working population, has been uncovered by structured pension managers.

With the planned introduction of a micro-pension scheme, the Federal Government, through the National Pension Commission (PenCom), would be bringing more Nigerians under the pension’s umbrella, thus ensuring that save for the rainy day. Read more

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