State governments and informal sector business owners and workers have been urged to key into the Contributory Pension Scheme (CPS) and financial inclusion through the Micro Pension Scheme of the National Pension Commission.
Mr Sani Ibrahim Mustapha, who represented the founder of Contributory Pension and Happy Retirement Advocacy (COPEHRA), made the call at a recent event in Abuja, put together to create more awareness on the need and benefits of contributory pension scheme.
“This programme was purposely organised to increase the awareness of people on the laudable scheme of contributory pension. Contributory pension in first instance was created to make sure that Nigerian retirees get their pension as at when due. As they lose their salaries and go to retirement, they need a reliable and constant income and that is what the contributory pension is meant to do.” Mr Mustapha, said.
He went on to harp on the need for all income earners to embrace contributory pension scheme.
Specifically, he called on state governors across the federation to reform their pension system by joining the contributory pension scheme, noting that those who have not enrolled in the scheme are losing out.
“The people that are yet to key into this contributory pension scheme are losing. I can assure you they are losing because if they are living on the thinking that government, after 35 years of working, will wake up and budget monies that are meant to fund health, security, education and other important sectors of the economy to give them as pension, they really need to wake up.
“The only reliable way to receive income after retirement is; as you are getting your salary, save your pension into your retirement savings account and this you can do through contributory pension scheme.”
Mustapha, the advocate of reliable pension through CPS, shifted his attention to the state governments in the country.
In his words; “All those states that are yet to key into the contributory pension scheme should remember that retirees are old people who it is government’s responsibility to cater for Governors that are yet to key in should emulate governors of Lagos, Kaduna, Edo, Rivers and Jigawa states. These are governors that have taken the initiative to reform their pension.“
“They reformed their pension and now they money set aside for their retirees. They don’t have to be running hether skether to look for money to pay these people that retired from service. I think all Nigerian governors should approach the National Pension Commission and get themselves keyed into this scheme for the benefit of their workers.”
Furthermore, he spoke on the newly introduced Micro Pension Scheme designed for workers and business owners in tye informal sector. “The informal sector workers, men and women market sellers really need to key into this. As they are going to the market, they are using their strength and they will get old. You still need money to take care of yourself and responsibilities even as an old pension. So this micro pension gives you that opportunity to set side for the rainy days.
“The good things about the Micro Pension Scheme is that even if you need money before you retire, you will still take part of it. A percentage of it is kept for you to access. So my advice to those in the informal sector is that they should through their unions approach the pension fund administrators and get registered. You will never regret it.”
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