Money

Pension fund assets climb to N21.9trn with 10.5m contributors

DailyTimesNGR DailyTimesNGR 21 December 2024 0

BY MOTOLANI OSENI The nation’s pension fund assets have grown to N21.9 trillion as of October 2024, with 10.5 million workers from the public and private sectors enrolled in the Contributory Pension Scheme (CPS) since its inception in 2004. This marks a significant rise from N21.37 trillion in

Money

PFAs to deepen pension funds investment in sharia-compliant instruments

DailyTimesNGR DailyTimesNGR 24 October 2024 0

The Pension Fund Administrators (PFAs) are set to further deepen investment of the pension funds into Sharia-compliant and ethical instruments in a move to explore investment options available under Retirement Savings Fund (RSA) Fund VI. To expand this investment outlet, the Pension Fund Operators Association of Nigeria (Penop), along with the National Pension Commission

Business

Pension fund assets hit N17.2trn in August

DailyTimesNGR DailyTimesNGR 6 October 2023 0

By Motolani Oseni The nation’s pension assets rose significantly to N17.292trillion as at the end of August 2023, soaring from N17.07trillion in July 2023, The Daily Times learnt. This Net Asset Value (NAV) represented a growth of 15.34 per cent in the first 8 months of this year, when compared to the NAV of N14.99 […]

News

Nigeria’s pension assets hits N16.76trn in H1’23

Ihesiulo Grace 4 August 2023 0

By Joy Obakeye Nigeria’s pension assets rose by N1.77 trillion in the first half of 2023, from N14.99 trillion in December 2022 to N16.76 trillion at the end of June 2023, that’s according to the National Pension Commission. PenCom disclosed this during the 2023 Journalists Conference in Lagos.In her welcome remark, PENCOM Director General, Aisha […]

Business

Pension fund assets may hit N14.8trn in 2022

Ihesiulo Grace 4 January 2023 0

By Motolani Oseni There are indications that the Nigerian pension fund assets may increase by N1.2trillion to hit N14.8trillion as of December 31st, 2022. This is despite the fact that some states and private sector players were unable to fully settle their outstanding pension liabilities. The pension fund assets stood at N13.6trillion as at the […]

News

Public Servants In Nigeria To Enjoy Archbishop Sam Zuga’s ‘SALARY FOR LIFE PROGRAM’

Ihesiulo Grace 11 October 2022 0

For over a decade, pensioners in Nigeria and some other parts of Africa have faced very difficult times and excruciating pains owing to inability to access their pension as at when due, some having to wait more than three years before their payments sail through. In the process of waiting, many pensioners especially those without […]

Headlines

How Nigerian workers fake deaths to get pension benefits

Ihesiulo Grace 27 August 2022 0

By BENJAMIN OMOIKE Some workers and retirees now fake their deaths as contributors to the Contributory Pension Scheme in order the get the benefits entitled to deceased persons, the National Pension Commission (PenCom), has revealed. To ensure that a worker is truly dead apart from other means of verification, PenCom has now asked the banks […]

Headlines

Pension Reform Act supersedes employee-employer pension agreements -Court

Ihesiulo Grace 16 June 2022 0

The National Industrial court in Kaduna has affirmed the superiority of the pension reform act over employee-employer pension agreements. The Pension Reform Act (PRA) of 2004, which governs and regulates the administration of the contributory pension scheme for the public and private sectors in Nigeria, was amended and replaced with the PRA 2014, DailyTimes gathered. […]

News

Pension is retirees’ right not privilege, NUP tells Governors

Ihesiulo Grace 12 December 2021 0

Ukpono Ukpong The National President, Nigeria Union of Pensioners (NUP), Comr. Goodwin Abumisi has cautioned State Governors that prompt payment of monthly pension to pensioners is a right and not a privilege. In a speech delivered at an event to mark this year’s Pensioners day, Comr. Abumisi called on state governors who are nonchalant in […]

News

PTAD task journalists on credible reportage of pension industry

Ihesiulo Grace 19 November 2021 0

*Says over 5,000 pensioners so far enrolled in ‘I’Am Alive platform’ PHILIP CLEMENT, ABUJA The Executive Secretary of The Pension Transitional Arrangement Directorate (PTAD), Dr Chioma Ejikeme, has charged journalists to ensure accurate and reliable reportage of the pension. The PTAD ES gave the charge in her address at a capacity building training for

News

Premium Pension receives double ISO certifications

Ihesiulo Grace 10 November 2021 0

PHILIP CLEMENT, Abuja Premium Pension Limited, one of the leading Pension Fund Administrators (PFAs) in Nigeria received two International Standard Organization’s (ISO) recertifications recently. The ISO recertifications are on Information Security Management System (ISMS) ISO 27001:2013 and Quality Management System (QMS) ISO 9001:2015. Going through the websites of

News

ASCNSN urges FG to review pension reform act to reflect payment of gratuity

Ihesiulo Grace 16 June 2021 0

Joy Obakeye Association of Senior Civil Servants of Nigeria, (ASCNSN), has said payment of gratuity to civil servants should be an important entity in the workers entitlement, stating that the federal government should review the 2014 Pension Reform Act. This was disclosed by the acting National President of the union, Comrade Tommy Etim Okon, during […]

News

FG allocates ₦14.9bn for pension arrears payment

Ihesiulo Grace 28 August 2020 0

By Philip Clement Federal Government has allocated N14.92bn for the payment of accrued rights for retirees under the Contributory Pension Scheme (CPS). The release of the fund was contained in a document by the Commission adding that the amount released would cover the payment of four months arrears, Daily Times gathered. PenCom said it was […]

News

C/River to commence automation of LG pension

Ihesiulo Grace 1 July 2020 0

The Cross River state Commissioner for Local Government Affairs, Mrs. Stella Odey, says that the local government pension would be automated soon. Odey made the disclosure when the State Working Committee of the Association of Local Government Pensioners, Cross River state chapter paid a courtesy call on her on Wednesday, in Calabar. While commending the […]

Featured Headlines News

Nasarawa needs N40bn to clear backlog of pension, gratuity -Sule

Ihesiulo Grace 29 May 2020 0

Over N40 billion is required to clear the backlog of pension and gratuity of retired civil servants in Nasarawa state. Governor Abdullahi Sule, made this known to newsmen at a media chat held at Government House on Thursday, to mark his one year in office. He said that his administration was committed to the welfare […]

News

Lagos pays N1. 8bn accrued pension rights

Ihesiulo Grace 27 March 2020 0

The Lagos state government has paid N1. 8 billion accrued pension rights into the retirement savings account of 418 retirees for the month of March. Director -General, Lagos state Pension Commission (LASPEC), Mrs. Folashade Onanuga, confirmed this in a statement issued on Friday in Lagos. Onanuga said that the 418 retirees are from the mainstream […]

News

Lagos gov’t pays N1. 8bn accrued pension rights

Ihesiulo Grace 27 March 2020 0

Lagos – The Lagos State Government has paid the sum of N1. 8 billion accrued pension rights into the Retirement Savings Account (RSA) of 418 Retirees for the month of March. Mrs Folashade Onanuga, Director -General, Lagos State Pension Commission ( LASPEC) confirmed this in a statement issued on Friday in Lagos . Onanuga said […]

Featured Headlines News

Court dismisses Nggilari’s suit for pension, benefits

Ihesiulo Grace 7 March 2020 0

The National Industrial Court, Abuja has dismissed the suit filed by the former Governor of Adamawa state, Bala Nggilari seeking the payment of his pension and other benefits, for lack of proof. Nggilari, the claimant was the deputy governor, then governor of Adamawa state from May 29, 2007 to May 29, 2015. He instituted the […]

Featured

NLC slams FG over plans to borrow N2trn Contribution Pension

Ihesiulo Grace 4 February 2020 0

By Ukpono Ukpong, Abuja The Nigeria Labour Congress (NLC), has expressed dismay over government’s plan to borrow N2 trillion from the pension funds presently put at 10 trillion to finance the development of national infrastructure in the country. Addressing the journalists Monday in Abuja during the National Administrative Council, NLC President, Ayuba Wabba, reminded the

Featured

Just in: Court dismisses ex- gov Goni’s suit for pension, benefits

Ihesiulo Grace 18 December 2019 0

Abuja – The National Industrial Court, Abuja on Wednesday dismissed ex- Borno governor, Mohammed Goni’s suit for payment of pension and other benefits, for lacking in merit. Goni,Goni, the claimant was the first civilian governor of the former Borno from Oct. 1979 to Oct. 1983. He instituted the suit against the State Government and Attorney-General […]