IPMAN Mulls Pension Scheme for 2.5 million Members

By Adedapo Adesanya

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has reached out to the National Pension Commission (PenCom) to seek an arrangement that will see the association enlist its over 2.5 million members and workers for a pension scheme.

This was disclosed by the association’s National President, Mr Chinedu Okoronkwo, who explained that the initiative was necessitated by the need to provide a retirement plan for its members.

Mr Okoronkwo said top members of the group, including some national officers and consultants as well as Mr Maurice Ibe of the Benham Group, have met with senior PenCom officials to discuss ways to make this a reality.

“We are here to see how we can add value to the economic situation of this country.

“There is this municipal pension plan for every employer and employee and we have decided to key into the programme. We think the programme will help our workers and our members

“One of the problems in this country is that of poverty and by the time we make our members and workers save for the rainy day, when they are out of a job or retire, they will have something to fall back on when they are no longer working.

“That is why we have come here to see how we can collaborate with PenCom on this pension scheme. We are looking at a system where every worker and member would be on the platform.

“We are targeting about 2.5 million of our members and workers. We plan to commence work immediately to ensure the scheme takes off in earnest,” he said.