He said this in Abuja at the BPSR October Lunch Time Reform Seminar Series with theme, The Imperative of Micro Pension Plan for both Formal and Informal Sectors.
He recalled that the bureaus inaugural Monthly Lunch Time Reform Seminar Series was held on Monday September 16, 2014 with theme, Pension Reform Act 2004: Implications for the Public Service.
According to him, the importance of social security in helping to address vulnerability and exclusion has received much attention among policy makers, academicians as well as businessmen.
He said that was done with a renewed commitment and vigour of extending social security coverage as well as improving governance, financing and administration of social security in Nigeria and that the Presidency, through the National Pension Commission (PenCom) as the apex body of the countrys pension industry, launched the Micro Pension Plan (MPP) on March 28, 2019.
He said the MPP allowed employees of organisations with less than three staff to be enrolled in its bid to achieve the pension industry strategic objective of covering 30 percent of the working population in Nigeria under the Contributory Pension Scheme (CPS) by the end of 2024.
Arabi therefore called for concerted efforts to raise public awareness on the MPP in the interest of national development.
The Acting Director-General, PenCoM, Hajiya Aisha Dahiru Umar, represented by the Head, Investment Supervision Department, Dr. Farouk Aminu, listed the benefits of the MPP.
He however warned pensioners not to invest in businesses they do not have adequate knowledge of.
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