NANPF, Sigma Pensions sign MoU on players’ retirement

SIGMA Pensions have signed a Memorandum of Understanding (MoU) with the National Association of Nigeria Professional Footballers (NANPF), to provide benefits for local and international professional footballers in retirement.

The scheme was specially designed for players in the Nigeria Professional Football League (NPFL), Nigeria National League (NNL), Nigeria Women Football League (NWPFL) and ones based abroad.

The signing of the MoU, which took place recently in Abuja, saw NANPF President, Tijani Babaginda signed on behalf of the union alongside with the management of Sigma Pensions.

In a statement, the Pension Fund manager had stated that the partnership was borne out of the need to enhance pension coverage across the working population, adding that football has become a major source of employment for youths that have over the years not been catered for.

“Amongst Sigma Pensions mandate as a Pension Fund Administrator is to assist employed workers plan for their retirement so that they can have financial security in their post service years.

“In line with that, Sigma Pensions felt the need to collaborate with this important sector that employs a large portion of our youth to provide them a retirement plan, so that they can also benefit from this laudable government programme of financial security just like employees in other sectors of the economy.

“This plan is for all professional footballers, be they local or foreign-based. As you may be aware, the Cross-Border Arrangement Guideline of the National Pension Commission has made provision for people living outside Nigeria to have retirement plans at home,” it said

On the benefits it would have on participants, the statement added: “Nigerian professional footballers have never enjoyed any type of social security structure for their post service years such that after their football careers, some fall into penury and cannot afford basics of life let alone healthcare insurance at old age.

“This arrangement is an opportunity for them to have a retirement plan such that after their active years, they would have a steady source of income that will guarantee them financial security in their old age”.