The National Pension Commission (PenCom) don remove age restriction for its Personal Pension Plan (PPP), making am possible for all Nigerians, including students and even newborns, to start saving for retirement.
Director-General of PenCom, Omolola Oloworaran, make this announcement after the second Pension Industry Leadership Council meeting wey happen for Lagos. She describe the move as major policy change wey go open pension access to everybody, no matter their age.
Before now, na only self-employed people and professionals wey be 18 years and above fit join the scheme. But with this new directive, anybody fit register from birth.
“The PPP now open to everyone. The age limit wey dey before don comot. Students and even newborns fit begin contribute,” she talk.
According to Oloworaran, the new policy go help build strong saving culture for Nigeria, where pension participation still dey low despite many years of reform.
She explain say when people start saving early, especially from young age, e go give dem long-term advantage through compounding, which fit increase retirement benefits well well.
The initiative also go help strengthen household financial stability and support long-term economic growth for the country.
Experts believe say this move go encourage more Nigerians to plan ahead and secure better financial future.
