RSA Holders Records Eight Million — PenCom
The National Pension Commission (PenCom) has disclosed that number of workers who have opened pension accounts under the Contributory Pension Scheme (CPS) stood at 8.3 million at the end of November 2018.
According to the commission, the figure rose from 7.3 million at the end of 2016. While the registered workers were under the formal sector, PenCom had disclosed it would soon commence the micro pension scheme for workers in the informal sector. The Head, Research and Corporate Strategy, PenCom, Dr Farouk Aminu, had, at a forum in Lagos, said the commission was working on ensuring that the scheme commenced as planned. According to him, this is a development that can enhance the growth of pension assets in the country. He stated that the micro pension scheme was planned to mobilise about 12 million contributors within five years. Also, in a recent circular, the Federal Government mandated all workers under the CPS to produce their National Identification Numbers as part of their pension requirements. PenCom disclosed this in a circular, titled ‘Notice on mandatory use of National Identification Number for all existing RSA holders’. The circular read, “The Federal Government has made it mandatory that every Nigerian must have a National Identification Number.