The Contributory Pension Scheme recognize the uniqueness of the individual, hence the introduction of Personal Identification Number (PIN). One of the objectives of the Pension Reform Act 2014 is to assist individuals by ensuring that they save in order to cater for their livelihood during old age. To allow for this, the National Pension Commission is putting in place a Micro Pension Scheme.
The Micro Pension Scheme would cater for the informal sector which has been segmented into three broad categories; the low income earners, the high income earners (professionals – Accountants, Architects Engineers, Medical Doctors, Pilots and Consultants etc) and the Small and Medium Enterprises. Under the old Scheme, many private Sector workers were not covered at all by any retirement Plan and those who were, were faced with very uncertain benefits due to the increasing insolvency of such plans.
Persons in these categories would be positioned to benefit from the Contributory Pension Scheme as Legacy is poised partner with you in this regard.
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