Some stakeholders have emphasized the need for more private sector engagement and public Sensitization on the importance of keying into the country’s pension scheme.
They spoke at a Pension Industry Roundtable on Thursday in Abuja organized by the National Policy Advocacy Centre of Abuja Chamber of Commerce and Industry (ACCI).
Meanwhile, the meeting was held in partnership with the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), National Pension Commission, Tangerine Apt and NLPC pensions.
According to the President of ACCI, Dr Al-Mujtaba Abubakar, the meeting is apt as it will help unravel some of the challenges faced by the sector.
Abubarka said the 2014 Pensions Reform Act brought sanity to the industry and resulted in accelerating growth and boost in the confidence of the masses.
He said that in spite of the progress, the industry spread is still below 20 percent of the entire workforce which has excluded many workers from the benefits of the industry.
“This gathering is billed at raising awareness and mapping out practicable ways of strengthening the inclusiveness of the workforce in the pension scheme in the organized private sector and Nigeria at large.
“I also want to assure you that the recommendations of this meeting will be forwarded to the right quarters for implementation,” he stated.
Similarly, the President, Nigeria Labour Congress(NLC), Joe Ajaero expressed sadness that the pension system in Nigeria did not completely address the fears of workers.
Ajaero, represented by the Assistant General Secretary of the Congress, Onyeka Chris, however accrued the challenge to the unstable economic condition in the country.
“The pension system has put money in our pockets but has not protected us. The value of what we are saving, how can we address it.
“We must create a pension system that has integrity, that will attract everyone. We should know how we can make the system work for workers while they are alive,” he added.
