The National Pension Commission (PENCOM) has urged traders, retirees, youths, and other Nigerians to sign up for its Personal Pension Plan (PPP) as a means of securing their financial future.
Director-General of PENCOM, Omolola Oloworaran, made the appeal during the rollout of the scheme in Edo State, engaging traders from markets across the seven local government areas in Edo South Senatorial District.
Represented by the Commission’s National Commissioner for Finance, Dr. Charles Emukowhate, the DG also praised President Bola Ahmed Tinubu for approving the release of N758 billion to offset outstanding pension and gratuity arrears.
She noted that the programme’s launch in March was intentional, coinciding with the commemoration of International Women’s Day.
Highlighting incentives under the scheme, she revealed that PENCOM would match contributions by enrollees up to N20,000. She added that the funds would yield interest, and participants could begin withdrawals three months after their first deposit.
According to her, the initiative is mainly designed for individuals in the informal sector, including traders, artisans, and self-employed professionals.
“We are mobilising and sensitising women on the benefits of the Personal Pension Plan across the country. However, it is open to everyone—men and women alike.
“We are providing a matching contribution of up to N20,000. This aligns with the Renewed Hope Agenda of President Bola Ahmed Tinubu, who has also taken bold steps in clearing outstanding pension liabilities amounting to N758 billion,” she said.
She stressed the need for consistent savings, especially among women who make up a large portion of the trading population, encouraging them to plan ahead for retirement.
“Save small today and gain big tomorrow. You cannot always depend on family; the best support system is the one you build for yourself,” she added.
Declaring the programme open, Edo State Governor, Monday Okpebholo, represented by the Commissioner for Labour and Productivity, Hon. Godwin Eshieshe, described the initiative as timely and impactful, particularly for low-income earners.
He added that the scheme complements ongoing efforts by both federal and state governments to enhance the welfare of citizens, especially those in the informal sector.
In her goodwill message, the Iyeki (leader of market women) in the state, Josephine Ibhaguezejele, assured that traders across markets, wards, and the three senatorial districts would be mobilised to take part in the programme.
