Pension Archives - DAILY TIMES Nigeria

News

Contributory Pension Scheme: Retired Police officers protest in Edo

Titus Akhigbe 22 July 2025 0

The National Association of Retired Police Officers, under the Contributory Pension Scheme on monday, embarked on a peaceful protest calling on the federal government to exit them from the scheme over alleged fraud and corruption. The pensioners in a protest to the Nigeria Union of Journalists,

News

National Council of Nigerian Legion seeks synergy with Military Pensions Board

DailyTimesNGR DailyTimesNGR 18 July 2025 0

By Andrew Orolua In a renewed move to reposition the Nigerian veterans’ welfare agenda, the Chairman of the National Council of Nigerian Legion, Ms. Grace Morenike Henry, has paid a courtesy visit to the Chairman of the Military Pensions Board (MPB) in Abuja. The visit, which marks her first formal engagement with the MPB leadership, […]

News

FG settles N1.2trn pension backlog, launches boost for 223,000 retirees

DailyTimesNGR DailyTimesNGR 19 June 2025 0

BY MOTOLANI OSENI In a move to clear the accrued pension of workers who retired from federal civil service, the federal government have, so far, settled about N1.2 trillion of its arrears to the concerned retirees across the country. The payment made was from the inception of the Contributory Pension Scheme (CPS), precisely, in 2004, […]

Money

Nigeria’s pension assets climb to N23.32trn, sustaining growth despite economic pressures

DailyTimesNGR DailyTimesNGR 14 June 2025 0

BY MOTOLANI OSENI Nigeria’s pension industry maintained its steady growth trajectory in March 2025, with total assets under management rising to N23.32 trillion. This represents a marginal increase of 0.27 per cent from N23.26 trillion recorded in February, according to the latest figures from the National Pension Commission (PenCom). The sustained growth underscores the

Economy

Nigeria’s pension fund assets rise to N22.86trn in January 2025

DailyTimesNGR DailyTimesNGR 31 March 2025 0

BY MOTOLANI OSENI Nigeria’s pension fund assets grew to N22.86 trillion as of January 31, 2025, reflecting a 1.55 per cent increase from the N22.512 trillion recorded in December 2024, according to the latest data from the National Pension Commission (PenCom). The steady expansion highlights the resilience of the pension sector despite prevailing economic challenges. […]

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 September 2024, reflecting an increase of over […]

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 […]

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 […]

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 […]

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 […]

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