Uche Usim, Abuja

Workers who operate a Retirement Savings Account (RSA) under the Contributory Pensions Scheme (CPS) have increased to 8.3 million as at the end of November of 2018.

The National Pension Commission (PenCom) which made the disclosure explained that the figure rose from 7.3 million that was recorded at the end of 2016.

While the registered workers were under the formal sector, PenCom says it would soon commence the micro pension scheme for workers in the informal sector.

The Head, Research and Corporate Strategy, PenCom, Dr Farouk Aminu, had, at a forum in Lagos, said the Commission was working hard to ensure that the scheme commenced and run as planned.

According to him, it is a development that can enhance the growth of pension assets in the country. He stated that the micro pension scheme was planned to mobilise about 12 million contributors within five years.

Also, in a recent circular, the Federal Government mandated all workers under the CPS to produce their National Identification Numbers as part of their pension requirements. PenCom disclosed this in a circular, titled ‘Notice on mandatory use of National Identification Number for all existing RSA holders’.

The circular read, “The Federal Government has made it mandatory that every Nigerian must have a National Identification Number.”

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