Independent Petroleum Marketers Association to Enrol 2.5m Members for Insurance Scheme

The Independent Petroleum Marketers Association of Nigeria, (IPMAN), has concluded plans to enlist its over 2.5 million members and workers for an insurance scheme with the National Pension Commission, PENCOM.

IPMAN National President, Chinedu Okoronkwo, disclosed that the initiative was necessitated by the need to provide a plan for its members.

Okoronkwo stated that some national officers of IPMAN and consultants, including Dr Maurice Ibe of The Benham Group, have met with senior PENCOM officials on how to ensure the realisation of the pension scheme.

IPMAN National President explained that there is this Municipal Pension Plan for every employer and employee and the association has decided to key into the programme, which he believes will help their workers and members.

Okoronkwo  added “One of the problems in this country is that of poverty. And by the time we make our members and workers to save for the rainy day, when they are out of 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.”

The IPMAN chief said his association was presently working with some key investors to achieve this goal.