PenCom develops ECRS IT infrastructure for micro pension
National Pension Commission (PenCom) has developed the Enhanced Contributor Registration System (ECRS) to facilitate the enrolment of participants in the Micro Pension Scheme when the scheme is rolled out, according to Mrs. Aisha Dahir-Umar, acting director-general of the commission.
Dahir-Umar who spoke in Calabar said the ECRS was developed to clean-up data in the Contributory Pension Scheme (CPS).
She stated that the clean-up will enable the Commission to not only facilitate the enrollment of participants in the Micro Pension Scheme, but to also facilitate the transfer of Retirement Savings Account (RSA) holders from one Pension Fund Administrator (PFA) to another.
She stressed that the Micro Pension Scheme will take off fully once the ECRS is fully tested and deployed.
She disclosed that the Commission released the guidelines on micro pension, the first step in giving effect to Section 2(3) of the Pension Reform Act (PRA), 2014, which provides that employees of organizations with less than three employees as well as the self-employed persons shall be entitled to participate in the CPS in accordance with the guidelines issued by the Commission.
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