NATIONAL PENSION COMMISSION

NATIONAL PENSION COMMISSION RELEASES

DRAFT GUIDELINES AND FRAMEWORK FOR MICRO PENSION PLAN

This is to inform the public that the National Pension Commission (PenCom) has developed Draft Guidelines and Framework for the implementation of the provisions of section 2 (3) of the Pension Reform Act 2014 which stipulates that….’’ Employess of organization with less than three employees as well as self-employed persons shall be entitled to participate under the scheme in accordance with the Guidelines issued by the commission.’’

The Act, therefore, provides for employees of organizations with less than three (3) employees as well as self-employed persons to participate in the Contributory Pension Scheme in accordance with the Guidelines issued by the Commission.

These categories of persons mainly work in the informal sector and constitute the majority of the working population in Nigeria. Accordingly PenCom has initiated the implementation of the provision section 2 (3) of the Pension Reform Act 2014 by the introduction of a ‘’Micro Pension Plan’’ for these categories of persons.

The Draft Framework and Guidelines on the Micro Pension Plan are available on PenCom’s website: www.Pencom.gov.ng.

The public is therefore invited to feel free to send their comments and observations to mppguidelines@pencom.gov.ng