For every Nigerian in an employed or self-employed establishment, having accrued savings and pension contribution intact after retirement is their dream. But unfortunately, many have had their hopes and aspirations of living in comfort after working years dashed away.
“We will ensure all hard working Nigerians in the private sector, both formal and informal, can retire without fear,” President Muhammadu Buhari said at the launch of Micro Pension Scheme in March 2019. The pension plan is designed to expand the coverage of pension contributors by an estimated 30 million people by the year 2024. This category of workers constitutes a large percentage of the working population in the country.
Since its launch, the plan has proven to be an indication that the Nigerin Government is committed to ensuring that Informal sector workers are also covered under the Contributory Pension Scheme .
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