Contributory Pension Scheme
COVID-19: Group implores FG to rethink contributory pension scheme
The Centre for Consumer Concern has implored the federal and state governments to consider the withdrawal of at least 20 per cent of retirement...
Edo spends N25b on pensions, settles arrears with N4.3b
Edo State Government has spent over N4.3 billion to settle outstanding pension arrears owed about 3,128 pensioners and N25 billion for payment of monthly pension for 13,081 retirees between November 2016 and May 2020.
Pension administrators hinge economic prosperity on reforms
Experts in the nation’s pension industry have urged governments and private sector operators to adopt the Contributory Pension Scheme (CPS) for their workers.
PenCom attributes accumulation of N9tr pension assets to OPS support
The National Pension Commission (PenCom) has attributed netting N9 trillion worth of pension assets under the Contributory Pension Scheme (CPS) to Organised Private Sector (OPS’) support.
News Analysis: New police pension scheme, benefits to retirees
The current Contributory Pension Scheme (CPS) was introduced to address several of the shortcomings of previous Nigerian pension schemes which the former could not achieve in tackling the problems faced by police retirees.
PFAs explain gains of ongoing data recapturing
The Pension Fund Administrators (PFAs) have implored pension contributors under the Contributory Pension Scheme (CPS) to embrace the ongoing data recapturing exercise across the country to enable them fully maximize the benefits in the system.
PenCom gives insurance compliance, submission deadline
In compliance to the Pension Reform Act (PRA) 2014, the National Pension Commission (PenCom), has given employers of labour up till March 31st, to comply with the guidelines for life insurance policy for employees, and the submission of insurance certificates. PenCom said the decision was taken in pursuance of provisions of Section 4(5) of PRA…
‘How regular budgetary funding will tackle outstanding pensions right’
Mrs. Aisha Dahir-Umar is the Acting Director-General of the National Pension Commission (PenCom). Despite acclaimed achievements with the Contributory Pension Scheme (CPS), the industry is yet to capture the objectives of the section 39(2). In this interview with BANKOLE ORIMISAN, she speaks on how budgetary funding/releases had not been regular and adequate for the payment of outstanding accrued pensions in last…
PenCom develops ECRS IT infrastructure for micro pension
National Pension Commission (PenCom) has developed the Enhanced Contributor Registration System (ECRS) to facilitate the enrolment of participants in the Micro Pension Scheme when the scheme is rolled out, according to Mrs. Aisha Dahir-Umar, acting director-general of the commission. Dahir-Umar who spoke in Calabar said the ECRS was developed to clean-up data in the Contributory…
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.