Nigeria's independent online newspaper
As the Nigerian workforce continues its growth and transformation, the imperative of robust retirement planning becomes increasingly pronounced. For those enrolled in the contributory pension scheme , the key to a secure and rewarding retirement lies in making informed financial decisions sooner rather than later.
Workers in the informal sector, who are not covered under the mandatory CPS, are advised to enrol in the micro pension plan to benefit from compounded returns on investment. Early enrolment in the CPS allows for the compounding of interest on pension savings over time, even with modest monthly contributions, resulting in a substantial savings for retirement.
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