PenCom tasks PFAs on awareness for micro pension plan

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Guardianng Oct. 4, 2021 3:10 a.m.

PenCom tasks PFAs on awareness for micro pension plan

The regulator said sections 5.3.1(c) and 5.4.1(i) of the Guidelines for MPP 2018 stipulate that the Commission shall “create awareness by carrying out public enlightenment and education on the establishment, operations, and management of MPP” and that PFAs shall “conduct regular public awareness, enlightenment, and education on MPP”.

PenCom submitted that Section 2(3) of the PRA 2014 stipulates that employees of organisations with less than three employees as well as self-employed persons shall be entitled to participate in the scheme following guidelines issued by the Commission, adding that Section 23 (f) of the PRA 2014 mandates the Commission to “carry out public awareness, enlightenment and education on the establishment, operations and management of the scheme”.

PenCom stated that the framework aims to set minimum standards for enlightenment and public awareness on MPP and ensure adherence to best practices in public relations among others..

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