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Chuks Udo Okonta
Pension Fund Operators Association of Nigeria (PenOp) has engaged three service providers – Leadway Assurance Company; Tangerine Life Insurance and
AXA Mansard Health Insurance to provide health insurance cover to Micro Pension (MP) contributors, Inspenonline can report.
The provision of health insurance is one of the incentives developed by pension fund operators to woo informal sector to embrace Micro Pension Plan (MPP).
The National Pension Commission (PenCom) disclosed this in a document obtained by this medium. PenCom noted that provision of incentives has been recognized
as a critical factor for informal sector workers’ participation in the micro pension plan.
Outlining engagements had with Micro Pension Stakeholders, PenCom noted that the second phase of the media campaign commenced in October, 2022 largely using the same media channels utilised during the first phase of the campaign – Radio, Outdoor and Social Media. (Twitter, Instagram, TikTok, Billboards and Lampposts).
The pension sector regulator said to ensure the effectiveness of the
media campaign, additional outdoor campaign materials were deployed for wider reach, especially through placement of stickers on Bus Rapid Transit (BRT) in Lagos, red buses in Abuja, and taxis in Port-Harcourt, Aba and Onitsha
The Commission said it conducted a one one day sensitisation workshop for leaders of three unions and association registered under KWACCIMA – Kwara State Igbo Traders Association (KWAITA), National Union of Road Transport Workers
(NURTW) and members of the Cooperatives Societies in Kwara State on 17 November 2022 at De Peace Hotel & Suites, Ilorin Kwara State.
PenCom noted that it also conducted a three day sensitization workshop for the
leaders/members of major associations in Kano State (Market Traders Association of Nigeria and Kano Cooperative Federation Limited), adding that the sensitization workshop took place on 29 & 30 November and 1 December 2022 at KFC Event Center in Kano State.
The Commission attended the 4th Pension Seminar organized by the Conference of Civil Society of Nigeria (CCSON) themed “ENGAGING STAKEHOLDERS TO BOOST MICRO PENSION IN NIGERIA” which took place on the 1 December, 2022 at Agura hotel Conference hall, located at Garki Area 10 along Moshood Abiola Road Abuja, it posited.
PenCom stated that it attended the Strategic Pension Fund Administration Course (SPFAC) at the Centre For Financial Economics NIPSS from 5-9 December,
2022.
PenCom said the total pension contributions received from micro pension contributors in Q4 2022 was N42,118,470.69, stressing that this brings the total pension contributions received to N368,034,392.81 from 89,327
MPCs as at 31 December 2022.
It said a total number of 4,715 Micro Pension Contributors (MPC) were registered during the period under review by 18 Pension Fund Administrators bringing the total number of registered participants to 89,327 as at December, 2022.
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