The National Pension Commission (PenCom) has urged traders, artisans, entrepreneurs and other self-employed Nigerians to begin saving for retirement through the Personal Pension Plan (PPP).
According to the commission, the plan is designed for people working in the informal sector who may not have access to traditional employer pension schemes.
PenCom explained that the PPP allows individuals to make flexible contributions toward their retirement savings, starting from as little as ₦1,000.
“Traders, artisans, entrepreneurs and other self-employed persons can start securing their future today through the Personal Pension Plan,” the commission said.
The commission noted that the plan is regulated to ensure that contributors’ funds remain safe and professionally managed for their long-term benefit.
“It is a simple and flexible pension solution that enables Nigerians in the informal sector to save consistently for retirement,” PenCom stated.
PenCom also emphasised that the scheme allows contributors to decide how often they save, depending on their financial capacity.
“You can start with as little as ₦1,000 and gradually build your retirement savings over time,” the commission said.
The commission added that the PPP provides an opportunity for millions of Nigerians outside the formal workforce to plan for financial security in old age.
