Sigma pension has decided to charge Small and Medium Enterprise to embrace contributory pension scheme by opening a Retirement Savings Accounts under the Contributory Pension Scheme and embrace voluntary contribution for future references.
The Vice-President, Business Development (West), Sigma Pensions, Mrs. Mabel George, gave the advice at the ConnectNigeria SMEs E-business fair 2018. Many representatives of the SMEs attended the event.
I observed that most of the medium and small-scale enterprises business is also a registered one and it is very important that they are able to contribute to the scheme. As long as you have a registered business, even if it is not a limited liability company or an enterprise, once it is registered with the CAC, you are able to come into pensions and do a voluntary contribution.
According to what the Law said based on paid employment is that you must have a minimum of three workers; but if you are an SME, you are coming in under the micro pensions which is just at the boarding stage and you will be able to make contributions at a voluntary rate to suit your income and ensure its made as at when due.
The Vice president also said What should be important to you is starting a business is to have a health management scheme and most importantly, you must have a pension scheme. At Sigma Pensions, as a PFA for over 12 years, we want to see the SMEs, major firms, and start-ups thrive in their businesses.
To end this post let me brief us on what a pension scheme is all about: A pension is a fund into which a sum of money is added during an employee’s employment years, and from which payments are drawn to support the person’s retirement from work in the form of periodic payments and a Pension Fund Administrator is the particular pension type you decide to use as an individual or a corporate body.