Aisha Dahir-Umar, DG PenCom
BY NKECHI NAECHE-ESEZOBOR–About 39 informal sector workers have converted to the mandatory Contributory Pension Scheme at the end of Q4 2021, according to figures obtained from the National Pension Commission on conversion of Micro pension plan to CPS.
The data shown that the sum of N596,339.27million was transferred to their respective RSAs in that same quarter as disclosed by the Commission.
According to PenCom’s fourth quarter report, the total conversion balance stand at N3,680,292.77 from 259 Micro Pension Contributors as at 31 December 2021.
The commission also disclosed that 73,600 informal sector workers have registered under the Scheme as of the end of December 2021.
The commission added that 62,463 informal sector workers had joined the CPS as of the end of December 2020, adding that the cumulative contribution rose by N16.71m to N106.3m as of the end of March 2021, from the N89.68m recorded as of the end of December 2020.