No pension scheme for 38m informal sector workers yet ON MARCH 21,
20188:08 AMIN BUSINESS, NEWS0 COMMENTS …As release of guidelines is stalled By
Victor Ahiuma-Young FOR about five years now, the National Pension Commission,
PenCom’s efforts at introducing the Contributory Pension Scheme, CPS, to the
informal sector of the nation’s economy, has not seen the light of the day. It
is estimated that there are no fewer than 38 million workers in the informal
sector of the Nigerian economy. Sadly, a huge number is currently not covered
in the CPS introduced into the Nigerian economy following the Pension Reform
Act, PRA, 2004 as amended in 2014. Among these categories of workers are
barbers, hair dressers, cobblers, lawyers, drivers, commercial motorcycle
operators, tricycle operators, vulcanizers, mechanics, tailors and market
men/women.
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