Firm tasks SMEs on retirement savings, voluntary contributions

Sigma Pensions has urged Medium and small Scale Enterprises (SMEs) to key iinto establishing retirement savings of the voluntary contributions scheme.The Vice President Business Development, (West) Sigma Pensions, Mrs. Mabel George  made the call at the recently during the ConnectNigeria SMEs E-business fair 2018 which had in attendance  over 10,000 SMEs.

George said: “For the medium and small scale enterprises, we are very aware that it is important that they are able to contribute into the scheme. As long as you have registered businesses even if it not a limited liability company or an enterprise, once it is registered with CAC you are able to come into pensions and do a voluntary contribution.”

“Because what the law states for paid employment you must be a minimum of 3 people and an employer and employee but if you are an SME.you are coming in under the micro pensions which is just at the boarding stage and you are able to make contributions at a voluntary rate to suit your income.”She listed challenges impeding SMEs growth in Nigeria, while proffering an array of solutions to ameliorate the situation.

“We find that most people start off their businesses and when we talk about pensions people become unresponsive. So what should be important to you is starting off a business, have a health management scheme.“Most importantly, you must have a pension scheme. At Sigma Pensions, as a PFA for over 12 years we want to see SMEs, businesses, startups thriving in their businesses.”