The Head of Micro Pension Department, National Pension Commission (Pencom), Dauda Ahmed says a major setback to the achievement of the expectations that millions would come into the voluntary contribution net has been the prancing inadequate awareness, pointing out that engagement with the intended voluntary contributors has not earned the mark of embrace and therefore, emphasized the need to reach the informal sector that encompasses professionals in several dimensions.

Speaking as the resource person at this year’s media parley with the theme, ‘Micro Pension- Challenge & Opportunities’, Dada said the success rate had fallen far below mark with only 22000 contributors walking in so far.

He said the disposition of ‘this is not what we expected’ has made the Pension Fund Operators of Nigeria and the regulator, PenCom to return to the drawing board and channel their resources to penetrate the informal sector in a way that was not done before.

With only 22000 contributors registered as at November 2021, Ahmed said the MPP has stayed on the fairly low traction lobby.

Corroborating Dada’s emphasis, the Managing Director at Access Pension Fund Custodian, Idu Okwuosa disclosed that steps taken to reach three major markets in Lagos which includes Alaba International Market were fruitful. She expressed confidence that based on concluded deliberations, there were high expectations that by January 2022, MPP would bounce back. She added that by 2022, the industry would jointly come up with media campaigns that would drive the penetration and awareness, attracting more contributors to the voluntary micro pension segment.