More awareness needed on micro pension plan – Labour leader

The general secretary of the National Union of Textile, Garment & Tailoring Workers of Nigeria, Issa Aremu, has called for more awareness on the execution of the micro pension plan.

He made the call on Friday following the launch of the plan by President Muhammadu Buhari in Abuja on Thursday.

In a statement he personally signed, Mr Aremu said Pencom must use various channels of communication in educating the public on the Micro Pension Plan.

He said the most important and effective channels should be periodic town hall meetings with trade unions, trade associations and cooperatives to educate members, proffer clarifications and address concerns on the Micro Pension Plan.

He said training must also be organised for leaders of unions, associations and, cooperatives “to be Micro Pension champions” to coach and enlighten their members.

“All done, the nagging questions that haunt the formal sector pension coverage remain.”

Micro Pension refers to an arrangement for the provision of a pension to the self-employed and persons operating in the informal sector through the Contributory Pension Scheme.

Mr Aremu said micro pension is a sustainable measure against mass income poverty that has pushed workers in both formal and informal sectors into the abyss of poverty.

At the launch of the plan, the president said the programme was conceived for Nigerians in the informal sector of the country.

Mr Buhari appealed to trade associations, workers unions and non-governmental organizations (NGOs) in the informal sector to join hands with the government in enlightening their members on the importance of the scheme

“This initiative will capture those that are not fully captured in the existing pension scheme.

“In the past three years, we have provided loans to farmers and others in the informal sector. The micro pension plan is the next step,” the president said