PenCom, NURTW Open Talks to Enroll 9 Million Transport Workers in Pension Scheme
Updated
Updated · msmeafricaonline.com · Jun 18
PenCom, NURTW Open Talks to Enroll 9 Million Transport Workers in Pension Scheme
3 articles · Updated · msmeafricaonline.com · Jun 18
Summary
PenCom and the National Union of Road Transport Workers have begun discussions on bringing about 9 million transport workers into Nigeria’s Personal Pension Plan under the contributory pension system.
The proposal centers on a mass-enrollment framework and an automated daily contribution model tied to transport revenue channels, targeting workers in motor parks, logistics routes, interstate corridors and urban transport networks.
NURTW said the same collection structure could also support a mobility programme to finance modern mass-transit vehicles, with daily operator payments servicing both vehicle loans and individual pension accounts.
PenCom backed the plan as a major informal-sector inclusion push, saying it fits the government’s social protection and financial inclusion agenda and could materially expand Nigeria’s pension contributor base.
If implemented, the partnership could become a national template for extending retirement savings to self-employed workers while helping modernize the transport sector.