Stakeholders in the financial sector plan to set agenda for the new government on insurance and pension contributions to the economy.

A statement said the stakeholders would meet at the 8th edition of NAIPE annual national conference with the theme, ‘Role of insurance and pension sectors in building sustainable economic growth under the new government’.

The event in Lagos would gather various stakeholders in both sectors to set agenda for the new government led by President Bola Tinubu, on ways to further deepen penetration and contribution of the sectors to economic growth.

It noted that this had become necessary at this time, following the abysmally low penetration of insurance and slow growth in pension enrolment, given the country’s huge population.

The statement recalled that the 2020 Consolidated Insurance Bill was still awaiting presidential accent, while the National Assembly workers and the Police Pension Board had recently withdrawn from the Contributory Pension Scheme.

This was as some other agencies and parastatals also wanted to withdraw from the CPS, which posed a threat to the sustainability of the scheme, and required urgent government intervention.

“These ugly developments, among so many other issues inherent within the industries will be exquisitely discussed by array of selected experts and analysts within and outside the industries, which would also set a template for the new government to ride on,” it stated.

According to the statement, the conference would be chaired by eminent investor in the financial services market, A Chartered Insurer and Actuarist, Mr Wole Oshin, who is the founder and group managing director of Custodian Group.

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