The Nationwide Pension Fee (PenCom) has revealed plans to deploy a brand new advertising and marketing technique into its Micro Pension Plan (MPP) to onboard 20 million on the scheme earlier than the tip of 2026.
The fee’s Director Basic, Omolara Oloworaran, stated this in a presentation on the PenCom Media Convention in Lagos.The brand new DG, who took over from Aisha Dahir-Umar, highlighted the shortcomings of the present MPP, saying that it lacks resonance with the varied casual sector, estimated to incorporate 70 million Nigerians.
To take care of the problem of the scheme within the business, Oloworaran stated the fee intends to revamp the scheme with a brand new construction and technological integration that will enhance accessibility and scalability.
The present challenges, she stated, underpinned a interval of stagnation, leaving the business struggling to recuperate from low public consciousness and belief. Dahir-Umar’s administration confronted allegations of neglect, with over 800 corporations, together with media homes, embroiled in litigation for non-remittance of pension funds.
Below the brand new DG, PenCom has pledged to have interaction media homeowners instantly to make sure common remittance of funds, addressing a long-standing challenge that has left staff, significantly within the media sector susceptible.
This engagement led to the fee’s restoration of N28.5 billion in excellent funds up to now, signalling a renewed dedication to transparency and accountability.
Oloworaran has reassured retirees and contributors beneath the Contributory Pension Scheme (CPS) of extra versatile withdrawal choices and elevated accessibility.
In line with her retirees can entry as much as 50 per cent of their financial savings as a lump sum upon retirement, offered the remaining steadiness helps sustainable month-to-month funds.
Because the business awaits the revamped MPP, stakeholders are assured that Oloworaran’s management will restore belief, drive participation and safe the monetary way forward for thousands and thousands of Nigerians.
The decided goal of onboarding 20 million contributors displays PenCom’s renewed deal with innovation, accountability and inclusion – a stark distinction to the challenges of the previous, she stated.
