Improve CPS- Sigma Pension Boss

Alhaji Umar Modibbo, who is the Managing Director of Sigma Pensions has called for the development of the contributory pension scheme adding that the new scheme is better and safer owing to the strategies that have been employed in the sector which makes the services sustainable.

According to him “After 11 years in the market and with the challenges in the market, I can say that the industry and the business is very much sustainable, contributive pension scheme is much safer and well-structured in a way that it is much more sustainable.

“What the industry needs now is expansion of coverage which the regulator is trying to do by initiating mini pension scheme or micro pensions as they call it. When it comes into stream, more people can now be served, under this new pension scheme”

He also added that the pension regulatory body is refining the mini or micro pension schemes so that more individuals can be served under the scheme.