The Pension Fund Operators Association of Nigeria (PenOp) has called on three tier-one underwriting firms to provide health insurance coverage to 89,327 Micro Pension Plan (MPP) contributors.
The three underwriting companies include AXA Mansard Health Insurance, Leadway Assurance Company and Tangerine Life Insurance.
According to the National Pension Commission (PenCom), in a report of the last quarter of 2022, the provision of health insurance is one of the incentives developed by pension fund operators to encourage the informal sector to embrace MPP.
The report noted that the provision of incentives has been recognised as a critical factor for informal sector workers’ participation.
Citing the effort made so far by the industry stakeholders in the area of outlining engagements, the Commission noted that to ensure the effectiveness of the media campaign, additional outdoor campaign materials could be activated
PenCom also explained that it has conducted a one-day sensitisation workshop for leaders of three unions and associations registered under KWACCIMA – Kwara State Igbo Traders Association (KWAITA), National Union of Road Transport Workers (NURTW) and members of the cooperatives societies in Kwara State.
