PenCom Launches Pension Drive for Women in Enugu

The National Pension Commission (PenCom) has initiated a campaign in Enugu State aimed at encouraging women working in the informal sector to enroll in the Personal Pension Plan (PPP). This launch took place on March 8, 2023, coinciding with the celebration of International Women's Day.

Samuel Uwandu, the Commission Inspector for the South East, highlighted that 96 percent of employed women in Nigeria operate within the informal sector and lack structured pension savings, leaving them financially vulnerable in old age. The campaign is designed to raise awareness and encourage women to start saving for retirement through a flexible pension platform.

During the campaign period from March 9 to March 13, PenCom will introduce a matching contribution incentive, where every eligible woman who contributes to a PPP account will receive an equal match up to a maximum of N20,000. The Nigerian pension industry currently manages N28 trillion in pension assets under strict regulatory oversight, and participants can access retirement benefits after age 50.