PenCom To Allow Artisans To Withdraw From RSA | Independent Newspapers Limited
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PenCom To Allow Artisans To Withdraw From RSA

Posted: Apr 3, 2016 at 2:04 pm   /   by   /   comments (0)

The National Pension Commission is planning to introduce the informal sector into the Contributory Pension Scheme through its micro pension plan in order to increase the pensionable population in the country.

There are also indications that the commission is planning to introduce incentives such as access to loans for artisans and others in the informal sector so that they can voluntarily buy into the scheme, the operators have said.

Since the inception of the CPS in 2004, only the formal sector has been allowed to have Retirement Savings Account, but they are not allowed to access the funds at will.