Contributory Pension Scheme
13 Aug 2019
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.
12 Aug 2019
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.
19 Feb 2019
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…
4 Feb 2019
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…
19 Oct 2018
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…
9 Jul 2018
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.
7 May 2018
The National Pension Commission (Pencom), has revealed plans to extend the Contributory Pension Scheme (CPS), to underserved sectors of the economy through the creation of a Micro Pension Scheme. Speaking at a workshop in Uyo, the Akwa Ibom State capital, the Acting Director General of PENCOM, Aisha Dahir Umar, represented by the Commission’s Secretary and…
28 Aug 2017
Arguably, the CPS operating under the Pension Reform Act 2004, as amended by the Pension Reform Act 2014, has been the most effective and visibly successful programme of the Federal Government since the return of democratic governance in 1999.
16 Jun 2017
If they had a RSA with some savings, they would have had something to fall back on when the factories closed. Because there was no CPS and therefore no RSA, most if not all of the people who worked there would have had no retirement benefits.
18 Jul 2016
Despites the economic challenges posed by the difficult operating environment, Pension Fund Operators Association of Nigeria (PenOp), said Contributory Pension Scheme...
23 Jun 2016
Akwa Ibom State government has unfolded plans to reintroduce the Contributory Pension Scheme (CPS), with the view to ensuring sustainable administration of the programme.
16 Jun 2016
The Chief Judge of Osun State, Justice Oyebola Adepele Ojo, has granted an order of mandamus compelling Governor Rauf Aregbesola to provide necessary information in respect of the state ...