Pension Operators Unveil Strategies To Grow Sector

The Pension
Operators Association of Nigeria (PENOP) has unveiled strategies to grow the pension sector and the nation’s economy in general.
Speaking to newsmen on Monday in Lagos after a pension stakeholders forum, the PENOP National Chairman, Chief Eguarekhide Longe, said that the fresh initiative strategies were to lift the status of Nigerian entrepreneurs and keep them living their normal life even when age has incapacitated them.
Longe said that the Association would continue to support the Pension Fund Administrators (PFAs) who are key operators in the industry to realise the basic objectives of the PenCom.
He said that pension operators would collaborate with PenCom on the formulated micro-pension policy as a new strategy of covering Nigerians who are in the informal sector and those who may not be captured as a result of employer policies.
He said that the pension fund had positive impact on the nation’s economy, since its inception stressing that the government had been borrowing about 70 per cent of the funds as allowed by the Pension Reform Act (PRA) 2004 as repealed by the PRA 2014.
PENOP is the umbrella body of Pension Funds Administrators (PFAs) and Pension Fund Custodians (PFCs).