Skip to main content

Only 11% of workforce is enrolled in the pension scheme – PenOp

Only 11% of workforce is enrolled in the pension scheme – PenOp

workforce

By Rosemary Onuoha

PENSION

Despite the astronomical growth recorded in the pension fund, only 11 percent of workforce is enrolled in the Contributory Pension Scheme, CPS, and the micro pension schemes and this number needs to improve, the Pension Fund Operators Association of Nigeria, PenOp, has said.

Head of Media, Communications and Branding Committee of PenOp, who is also the Chief Executive of Fidelity Pensions Limited, Mrs. Amaka Andy-Azike, disclosed this during a webinar organized for pension correspondents.

Lamenting the development, Andy-Azike said: “We plan to have a pension awareness week, like a pension fair where operators attend to individuals on the spot with media partners available for coverage. We also intend to participate in World Savings Day to drive financial inclusion as only 11 percent of the active workforce is enrolled in contributory and micro pension schemes and this number needs to improve.”

Speaking on the plans for the coming year, Andy-Azike said: “Although the pandemic distorted a lot of things on our calendar this year, we have lined up a lot of programs and are looking forward to more media interactions in the coming year.”

READ ALSO:FG borrows over N2trn from bond investors in 2020

Also speaking, Managing Director of Access Pension Fund Custodian (PFC), Mrs. Idu Okwuosa, said that all pension investments in the industry are insured, therefore there’s not a chance that anyone can have access to the funds in the industry.

Okwuosa said: “The public should be assured that all pension assets are traded in the name of the Pension Fund Administrator (PFA) and Pension Fund Custodian (PFC), in other words, the investments are made in the PFA/PFC’s name. The returns are not paramount to the National Pension Commission (PenCom) or operators, as much as the safety of the funds,” she said.

She assured that contributors under the Contributory Pension Scheme (CPS) can be rest assured that the Pension Fund Administrators (PFAs) and Pension Fund Custodian (PFCs) together with the regulator PenCom will continue to ensure the safety of pension assets for the benefit of all contributors.

The post Only 11% of workforce is enrolled in the pension scheme – PenOp appeared first on Vanguard News.


https://ift.tt/3mX4CFJ by Urowayino Jeremiah via Vanguard News Albert Einstein Fools of Fortune
Labels:

Comments

Post a Comment

Popular posts from this blog

How to jump-start Nigeria economy post-COVID-19 Pandemic

Nwali Tochukwu Watching with consternation the fall out of events, actions, and inactions of our Nigerian leaders on mitigating the negative impact of COVID-19 Pandemic disruptions on our social and economic lives. As a young dynamic business and entrepreneurship writer, and author cum small business owner, what came into my mind as we navigate the storms of COVID-19, was a common English phrase Adages, Proverbs, first recorded in Fuller’s Gnomologia, 1732: ‘A stitch in time saves nine’ which was translated to literally, solve the problems right now! Why procrastinating? If we, as a nation wants to break away from past mistakes, and present mistakes, we should hold the bull by the horn right now. And avoid the roads of political expediency. That is exactly what the stitch in time simply stood for. Promptly address issues posed by Coronavirus. By quickly sewing up of a small hole or tear in a piece of material, so saving the need for more stitching at a later date when the whole ha...
2 comments
Read more

Where is Aguleri Located?

Aguleri is a prominent town often associated with the mighty river called Omabala wgiyflows through it. It is home to a lot of great men and women of Anambra Stare - notably Willie Obiano. History had it that it was the cradle of Igbo people established by Eri, son of Had, son of Jacob (you got to read your Bible babe). Where is Aguleri located? It can be foueat the north eastern part of Nigeria. They share boundaries with Kano, Umueri, Anam and Nando httpss://twitter.com/share https://google.com https://www.alexa.com/siteinfo/google.com https://www.quantcast.com/google.com https://sharedcount.com/?url=https://google.com https://www.similarsites.com/site/google.com https://facebook.com https://www.alexa.com/siteinfo/facebook.com https://www.quantcast.com/facebook.com https://sharedcount.com/?url=https://facebook.com https://www.similarsites.com/site/facebook.com https://youtube.com https://www.alexa.com/siteinfo/youtube.com https://www.quantcast.com/youtube.com ...
Post a Comment
Read more

A lot of people think of actresses as prostitutes ― Joke Lawal

On-the-rise actress, Joke Lawal is living up to the title bestowed on her in 2016 as Nollywood New Bride by White Cowry Awards as the one-time City People Awards nominee is rapidly becoming a force to reckon with in the make-believe world. The Moshood Abiola Polytechnic graduate who dumped her degree in Business Administration in pursuit of her passion for acting in a chat with Potpourri has revealed what she hates about being an actress and what she would love to see a change in the movie-making landscape. ALSO READ:  Buhari urges Nigerians to pray for peace, unity “I would like to change people’s perception of actresses. A lot of people think of actresses as prostitutes, they see us as people who are not worthy of marriage and having a family. If I have the power this is something I will like to change. I will also like to see a change in the way our stories are written and interpreted, and in the quality of our film productions. Another thing I would like to change too is, ho...
Post a Comment
Read more