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The National Pension Commission (PenCom) said about 90 percent of employees in the public sector are not enrolled in the Macro Pension Plan. It said that bringing them into space is important to address the risk of old age poverty. According to the commission, the Micro Pension Plan platform provides workers in the sector opportunity to register for secured pensions and contribute flexibly. The scheme is such that the artisans and traders can register with and agree on a periodic amount they will be contributing according to their earnings. Approximately 59.6 million Nigerians are engaged in the informal sector. The Head of Corporate Communications of PenCom, Abdulqadir Dahiru, in a paper delivered in Enugu state, at an event to educate Nigerians about the micro pension plan, at the weekend, explained that contributors in the informal sector can even draw 40 percent of what they have saved for an emergency demand while the balance is kept till retirement. “It is a means of savings also for those in the informal sector and where they could fall back to and get financial assistance to keep their daily engagements going,” he said.

Guardian