The Managing Director, Veritas Glanvills Pensions Limited, Mr Godson Ukpevo, has urged transport workers to prepare for their future with pension plans.
He made the urge during a sensitisation workshop on micro pension for the National Union of Road Transport Workers in Lagos.
Ukpevo said the workshop marked the beginning of its relationship with the NURTW on the micro pension plan which was inaugurated by President Muhammadu Buhari in March.
He explained that the micro pension plan was a retirement savings scheme that was developed by the National Pension Commission for the workers in the informal sector.
The pension operator said, “The scheme which is in line with the provisions of the Pension Reform Act 2014 allows for self-employed persons and workers in organisations with less than three employees to register with any of the licensed Pension Fund Administrators and make contributions towards their Retirement Savings Accounts.
“These contributions are pulled together and invested for good returns to the contributors but strictly in accordance with the investment guidelines issued from time to time by PenCom.”
He explained that the objectives of the pension reforms were among others to ensure that every worker received his retirement benefits as and when due and assist workers to save in order to cater for their livelihood at old age so as to reduce old age poverty.
