The National Pension Commission (PENCOM) has said that it would open the window for the transfer of Pension Fund Administrator (PFA) tentatively by June 2020. Head, Corporate Communication, PENCOM, Mr Peter Aghohow, disclosed this on the sidelines of the 2019 media retreat organised by the Pension Operators Association of Nigeria (PENOP). Aghohowa said that the […]
The National Pension Commission (PenCom) on Wednesday directed the Pension Fund Administrators (PFAs) to investigate the death certificates presented by beneficiaries of the deceased before payment of death benefits. The Acting Director-General of PenCom, Mrs Aisha Dahir-Umar, gave the directive in Abuja. Dahir-Umar said that the agency had received series of complaints from retirees that […]
The National Pension Commission (PenCom) has issued new guidelines to regulate the operation of Voluntary Pension Contributions (VPC) under the Contributory Pension Scheme (CPI). PenCom Head of Corporate Communications, Mr Peter Aghahowa, said in the statement on Friday that under the guidelines, voluntary contributions should be non-obligatory contributions made by any employee in the formal […]
The National Pension Commission (PenCom) has approved 3, 280 applications for payment of retirement benefit under life annuity plan. The commission, in its 2018 first quarter report posted on its website, said the 3,280 retirees received N3.61 billion as lump sum payment and were paid annuity premium of N17.96 billion to insurance companies. This, PenCom […]
…As NPA pensioners lament unpaid N34bn entitlements, arrears The National Pension Commission (PenCom) has disclosed that it has released N86.7 billion to sacked workers of various companies who had been into Contributory Pension Scheme (CPS). But pensioners of Nigerian Ports Authority (NPA) have urged President Muhammadu Buhari to pay them their pension arrears increment/harmonisation, amounting […]
The acting Director General of the National Pension Commission (PenCom), Mrs Aisha Dahiru-Umar, says its appointed recovery agent recovered N14.76 billion outstanding pension contributions and penalties. Dahiru-Umar disclosed this at a one-day interactive session with the Organised Private Sector (OPS) on “Challenges and Future Outlook of the Pension Reform Act (PRA 2014)” in Lagos on […]
The National Pension Commission (PenCom) has commenced nationwide pre-retirement verification and enrolment exercise for employees in the service of the Federal Government Treasury Funded MDAs, who are due to retire from service between January and December 2019 by virtue of attaining the applicable maximum age or length of service, whichever is earlier. The exercise, which […]
The National Pension Commission (PenCom) has replied retirees under the Contributory Pension Scheme (CPS) that the Federal Government is yet to release money for payment of pension benefits to workers who retired from March 2017 The Commission’s Head of Corporate Communications, Peter Aghahowa, while reacting to retirees’ demanding for their pension payment, said they would […]
.Nominees for CBN, ICPC, PenCom, ICPC, NDDC, others affected .We’re acting within the purview of our powers -Senate .Presidency keeps mum, as Joe-Odumakin wants Senate to confirm Magu Controversy is now trailing the stance of the Senate to put further confirmation of about 60 nominees from President Muhammadu Buhari on hold, pending action of the […]
The National Pension Commission (PenCom), has cautioned that any amendment to the Pension Reform Act (PRA) 2014 will kill the growing culture of national savings built within the last decade, possibly, scaring away investors in the pension industry and the country. This is arising from calls for exemption of some agencies of the government from […]
The National Pension Commission has revealed that the total assets under the Contributory Pension Scheme has grown to N7.09tn as of the end Q3, 2017. The commission stated that, the funds had continued to maintain a steady growth since inception of the scheme. PenCom stated that the aggregate pension assets under the CPS grew from […]
Effort at repositioning the Nigeria’s pension reform to attain global reckoning may be a fluke, if ongoing attempts to tamper with the Pension Reform Act (PRA) as amended in 2014, sails through. Such tinkering, aligned with government’s proposal to except some agencies of government from contributory pension scheme, it has been argued, would erode confidence […]
New Bill seeks exclusion of Customs, Immigration, EFCC, others from Act If Nigeria’s pensions landscape was a Google Search bar and one had the opportunity to enter any given year before 2004, the results would have been easily organisable on a neat continuum ranging from confusion to an abject mess. The rules were a spaghetti-like […]
Acting President Yemi Osinbajo (SAN) has directed the appointed board members of the National Pension Commission (PenCom), Code of Conduct Bureau (CCB) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to resume work in acting capacity, pending the confirmation of their appointments by the Senate. Osinbajo gave the directive on Friday in […]
The National Pension Commission (PenCom) has said at least 184,979 receive N6.7 billion monthly from the Contributory Pensions Scheme. The Acting Director-General of PenCom, Mrs. Aisha Dahir-Umar, disclosed this at a retreat organised by Pension Operators (PenOp) in Abeokuta, Ogun State. She said as at March 2017, the retirees were receiving pensions regularly with an […]
More than 95 per cent of about N4 billion paid to disengaged workers by Pension Fund Administrators (PFA) in the third quarter of 2016 went to the private sector. A Quarterly Summary Report of the National Pension Commission (PenCom), shows that 12,464 persons were paid in the quarter under review. According to the report, the […]
. Allegedly compromised lawmakers of the 7th Assembly with N500m . Allegations of bribing lawmakers baseless and unfounded- Mrs. Anohu- Amazu .We did not collect bribe to amend pension law – Senator . PenCom not aware of such transaction – Spokesman Fresh facts have revealed that the sacked Director General of the National Pension Commission […]
The Nigerian Pension Commission has warned on the negative consequences of state withdrawing from workers Retirement Savings Accounts (RSA). Pencom disclosed recently via publication on its website that state government have been asking for deductions from their state’s RSA. “It has come to the Commission’s attention that some State Governments, as employers, have been requesting […]
Workers in the informal sector who are presently wooed by the National Pension Commission (PenCom) to embrace the Contributory Pension Scheme (CPS), have demanded for a window that would enable them get soft loans for the purchase of machines and equipment from their savings. This demand was made when executives of PenCom meet the workers […]
A total of N172.4 billion was invested in state securities under the Contributory Pension Scheme in the 2014 financial period. Figures obtained from the National Pension Commission (PenCom) showed that the total assets under the CPS stood at N4.6 trillion at the end of 2014. The commission disclosed that the pension funds could only be […]