PenCom recovers N14.76 billion from employers, issue 13,469 certs
The National Pension Commission (PenCom), has announced a total recovery of N14.76 billion by Recovery Agents (RAs) to date.The Commission said the entire amount, which comprises principal contribution of N7.53 billion, and penalty of N7.23 billion, has been credited to the workers Retired Saving Accounts (RSAs).
Group threatens to sue PenCom, states over pensioners’ entitlements, deductions
Intellectual Young Leaders Network (IYLN) has threatened to sue the National Pension Commission (PenCom) if pensioners’ welfare is not prioritised at the end of next month.
FG pensioners yet to receive 33.3% pension arrears
Retirees across the country have confirmed that they are yet to receive complete payment of the 33.3 per cent pension arrears, meant for Federal Government pensioners under the Defined Benefit Scheme (DBS), by the Pension Transitional Arrangements Directorate (PTAD).
Pension contributors hit 8.04m, membership rises by 1.93% in Q1
First Quarter (Q1) E 2018 report released by the National Pensions Commission (PenCom), has shown a promising future for the industry following growth in the microeconomic sections in different sectors of the economy. According to PenCom, the pension industry recorded a 1.93 per cent growth in membership in Q1, up from 7.89 million contributors at…
PenCom begins enrolment of retiring FG employees in southwest
The National Pensions Commission (PenCom) has started the verification and enrolment of retiring Federal Government employees in the southwest. PenCom’s Head, Corporate Communications, Peter Aghahowa disclosed this in a statement yesterday. He said the exercise, which began yesterday in the southwest, would last till August 17, 2018. Included are employees in the Ministries, Departments and…
Pension Commission allocates N1.6 trillion to infrastructure investments in new scheme
Hopes may be rising for the long-sought financing of critical infrastructure in the country with the hugely pooled pension contributions, as about N1.6 trillion, representing 20 per cent of the N8 trillion contributed, would be invested for that purpose.
PenCom lauds pensions reforms, N8 trillion record
The National Pension Commission (PenCom) has commended the series of reforms in the sector, which has raised accumulations from contributors to N8trillion, as well as brighter hopes to retirees.
PenCom plans more benefits for retirees in new scheme
The National Pension Commission (PenCom) has said the 50 per cent lump sum payable to retirees as gratuity on retirement from their Retired Saving Account (RSA) was reduced to enable
More investment options for pension contributors
With effect from July 2018, contributors to Nigeria’s contributory pension scheme (CPS) will now have options regarding how their contributions are invested and have the prerogative to direct their Pension Fund Administrators (PFAs) to invest their pension contributions in line with these options. Since 2004, when the CPS was introduced, the pension contributions of active…