As part of the federal government’s initiative to achieve financial inclusion, a diversified and inclusive economy, President Muhammadu Buhari has formally launched the Micro Pension Plan .
“In the past three years we provided grants, concessionary loans and technical support through the Small and Medium Enterprises clinics to farmers, traders and SMEs. The Acting Director-General of the National Pension Commission , Aisha Dahir-Umar, explained that the micro pension plan targets the significant majority of Nigeria’s working population who, incidentally, operate in the informal sector.
“The contributors may make contributions daily, weekly, monthly or as may be convenient to them. Every contribution shall be split into two, comprising 40% for contingent withdrawal and 60% for retirement benefits.
Source: Financial Digest (financialdigest.net)
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