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Pension Fund Administrators (PFAs) and other pension sector stakeholders have announced plans to offer health insurance packages to micro-pension participants across the country.

The operators said the gesture will lead to insurance for the unemployed and lure persons from the informal sector during the 2021 edition of the Pension Fund Operators Association of Nigeria (PenOp) media parley.

Idu Okwuosa, the Managing Director/Chief Executive Officer of Access Pension Fund Custodian and the Head of the PenOp Media Committee, said the sector was collaborating with insurance carriers to develop incentives for micro-pension payments.

Okwuosa urged operators and the National Pension Commission (PenCom) to create lifestyle products for micro pension contributors, as well as collaborate to ensure that, in addition to the benefits of retirement and contingency savings, contributors take advantage of additional strong incentives.

Some pension operators, she said, have visited markets like the Alaba International Market to educate traders about the need for saving and planning for retirement through the Micro Pension Plan (MPP).


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