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Автор Тема: Pension Business’ll Soar, Says IGI Pension Boss  (Прочитано 20 раз)
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The industry will boom when the regulatory body, the National Pension Commission (PenCom) releases the guidelines on the informal sector under the Contributory Pension Scheme (CPS), the Managing Director of IGI Pension Managers, Stanis Ezeobihas has said. Ezeobi said according to statistics, there are about 51 million working people in Nigeria with only 5.6 million registered in the CPS. He said that despite the N3.73 trillion pension funds generated through the contribution of the 5.6 million people, about 45 million people were yet to register, showing that a huge market still exists in the industry. He said: "The market frontier is the informal market going by available statistics, although there are challenges and costs that go with getting the informal sector on board. It is more expensive to cover than the formal sector. "The informal sector consists of artisans, Okada association, Drivers Union and market women associations among others and reaching these people can be difficult," he said. Ezeobi said to reach and register these groups of people, pension managers have to come together with a common goal to achieve results. He said for IGI Pension, the company is repositioning to key-into the prospects of the sector, adding that it has recapitalised to over N1.2 billion, more than the N1 billion recapitalisation required by the regulatory body. "On our own part, we are strategising at using the parent company, IGI Insurance Plc platform which has a broad agency network to penetrate the informal sector and get a significant share of the market. "We are the last to be licensed by PenCom since the new scheme began, but we have been able to grow and surmount all of our challenges. What we are waiting for now is for PenCom to release the guideline on the informal sector," he said. The Acting Director-General of (PenCom), Mrs. ChineloAnohu-Amazu said the framework on informal sector participation is been put in place by the commission, noting that the market is huge and untapped. She stated the policy issues such as contribution rate, mode of collection and enforcement have been addressed by the framework. She, however, noted that the informal sector and self-employed persons lack a coherent structure and have an unwieldy composition, which renders their integration into the new scheme a difficult task.


« : 13 Сентябрь 2017, 20:25:58 »

The industry will boom when the regulatory body, the National Pension Commission (PenCom) releases the guidelines on the informal sector under the Contributory Pension Scheme (CPS), the Managing Director of IGI Pension Managers, Stanis Ezeobihas has said.


Ezeobi said according to statistics, there are about 51 million working people in Nigeria with only 5.6 million registered in the CPS.


He said that despite the N3.73 trillion pension funds generated through the contribution of the 5.6 million people, about 45 million people were yet to register, showing that a huge market still exists in the industry.


He said: "The market frontier is the informal market going by available statistics, although there are challenges and costs that go with getting the informal sector on board. It is more expensive to cover than the formal sector.


"The informal sector consists of artisans, Okada association, Drivers Union and market women associations among others and reaching these people can be difficult," he said.


Ezeobi said to reach and register these groups of people, pension managers have to come together with a common goal to achieve results.


He said for IGI Pension, the company is repositioning to key-into the prospects of the sector, adding that it has recapitalised to over N1.2 billion, more than the N1 billion recapitalisation required by the regulatory body.


"On our own part, we are strategising at using the parent company, IGI Insurance Plc platform which has a broad agency network to penetrate the informal sector and get a significant share of the market.


"We are the last to be licensed by PenCom since the new scheme began, but we have been able to grow and surmount all of our challenges. What we are waiting for now is for PenCom to release the guideline on the informal sector," he said.


The Acting Director-General of (PenCom), Mrs. ChineloAnohu-Amazu said the framework on informal sector participation is been put in place by the commission, noting that the market is huge and untapped.


She stated the policy issues such as contribution rate, mode of collection and enforcement have been addressed by the framework. She, however, noted that the informal sector and self-employed persons lack a coherent structure and have an unwieldy composition, which renders their integration into the new scheme a difficult task.

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