NGO calls for more participation in Micro Pension Plan

By Nana Musa

 

The Contributory Pension and Happy Retirement Advocacy (COPEHRA), a Non-Governmental Organization (NGO), has called for more participation in Micro Pension Plan (MPP).

A board member in the NGO, Mr Sani Mustapha, said this in an interview with the News Agency of Nigeria (NAN) on Sunday.

He said that the MPP has a lot to offer the economy and the country in terms of investible long term funds and deepening the financial inclusion.

“MPP is an opportunity for workers who are mainly under the informal sector to save for their retirement.

“It is also for persons working in organisations with less than three employees, and the minimum age to start the contribution is 18 years.

“The MPP has many benefits which include opportunity to make withdrawal prior to retirement,” he said.

Mustapha said available record shows that MPP has over 95,000 participants registered now and has generated N435.61 million.

He said that MPP needs more publicity for the public to know and understand how it works.

NAN reports that MPP is an arrangement under the Contributory Pension Scheme (CPS).

It allows self-employed and persons working in organisations with less than three employees to make financial contributions towards the provision of pension at their retirement or incapacitation.

 

(NAN)