PenCom Urges Edo Traders and Youths to Join Pension Plan

The National Pension Commission (PenCom) has called on traders and youths in Edo State to enroll in a pension plan to secure their financial futures. This initiative was announced by the Director of the Commission, Omolola Oloworaran, during the launch of the scheme in Benin on Wednesday.

The event was attended by various stakeholders, including Dr. Charl Emukowh, the Director-General of the initiative, which targets individuals in the informal sector and self-employed professions.

Oloworaran commended President Bola Tinubu for approving the payment of N758 billion to clear outstanding pension liabilities. The launch coincided with the celebration of International Women’s Day, emphasizing the benefits for women traders, who often neglect their own well-being.

The program allows for flexible contributions, with an incentive matching contributions of N20,000, enabling participants to begin partial withdrawals after three months. The initiative aims to encourage self-sufficiency among low-income earners and artisans, with a focus on mobilizing women across three senatorial districts.