PenCom: Lack Of National Identity Numbers Hinders Registration Of New MPP Contributors

The National Pension Commission (PenCom) has said that the greatest challenge the regulator is having with the registration of contributors into the Micro Pension Plan(MPP) is identification.

The Head of Corporate Communications of PenCom, Peter Aghahowa who spoke to TheWhistler   on the sideline of the just concluded journalist workshop  in Benin , Edo state on Thursday  said  the  issue of  National Identity Number (NIN) was a great challenge of the MPP scheme.

According to Aghahowa the NIN is a pre-requirement for the initiative but most Nigerians seem not to have it.

The MPP was launched by President Muhammadu Buhari this year to cater to the pension needs of the informal sector workers, artisans and operators of Small and Medium scale Enterprises (SMEs).

Peter however noted that to resolve this barricade on growing the registration of the MPP scheme the PenCom was in talks with the National Identity Management Commission (NIMC) to form some sort of collaboration that will ease  the registration stress off  Nigerians.

“To Facilitate the MPP we have said when people go out to register, they should collect their information’s and bring it to the commission and we will liaise with NiMC to fast track the process of the NIN.

On when accrued right will be cleared, the Pencom noted that the government only remits funds monthly but the arrears pre -commencement of the contributory pension scheme (CPS) was yet to be remitted.

“The CPS consist of both government and prevent employees. We don’t get to hear these issues with the private, or those that are self-funded amongst the government employees.

But for the treasury funded government workers peter said the commission hopes that when the 2020 budget is passed and there is cash backing for the accrued right then Nigerians can be assured that   the PenCom will clear the bulk of debts.

Meanwhile Peter noted that since its launch the MPP has experienced great success and also seized that opportunity to urge  pension fund operators to create more awareness about the new initiative through increased marketing noting that they were  at the retail end of the product.