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4 October 2021

PenCom tasks PFAs on awareness for micro pension plan

The National Pension Commission (PenCom) has called on pension fund administrators (PFAs) in the country to have a yearly budget for media campaign plans to increase participation in the micro pension plan (MPP). This, the Commission said in a Framework for Enlightenment and Public Awareness’ for the Micro Pension Plan sent to all PFAs.

The National Pension Commission (PenCom) has called on pension fund administrators (PFAs) in the country to have a yearly budget for media campaign plans to increase participation in the micro pension plan (MPP). This, the Commission said in a Framework for Enlightenment and Public Awareness’ for the Micro Pension Plan sent to all PFAs. It cited Section 2.2 of the Circular on Service Delivery by PFAs. According to the Commission, two years after the launch of the plan in the country, only 70,000 contributors have been recorded out of over 200 million population. Noting that sequel to the release of the guidelines for the MPP, it identified the need to intensify public enlightenment in a sustained manner to raise the level of awareness and acceptability of the MPP as a critical success factor. - The Guardian online