National Pension Commission (PenCom) has said rising inflation has continued to erode the purchasing power of pensioners, and that it was seeking solutions to the challenge.

The National Pension Commission (PenCom) on Thursday said it had issued over 38,000 Pension Clearance Certificates (PCC) so far to organisations, in 2024. The Director-General of PenCom, Ms Omolola Oloworaran, said this at a workshop organised by PenCom for journalists covering the pension industry in Lagos. The theme of the workshop was, “Tech-Driven Transformation: Shaping…

The National Pension Commission (PenCom) is set to clamp down on pension-defaulting employers even as 35 firms paid a total penalty of N210.68 million in the second quarter of the year.

The National Pension Commission (PenCom) said pension assets will surpass N22 trillion by the end of the year.The commission's Director-General, Omolola Oloworaran, revealed this in a paper delivered at a conference at the weekend in Abuja

Omolola Oloworaran, the Director-General (DG) of the National Pension Commission (PenCom), says the commission is projected to close the year with over N22 trillion in pension assets. Oloworaran said this at a press conference in Abuja on Thursday. The conference,with the theme, “Tech-driven Transformation Shaping the Pension Landscape”, showcased PenCom’s strategic commitment to innovation. READ…

Abia State has joined the contributory pension scheme (CPS), according to the National Pension Commission (PenCom), following the state government’s repeal of the 2017 Law and re-enactment of the Abia State Pension Reform Law in November 2024. PenCom announced this in a series of posts on 'X,' noting that the agreement was formalized during a…

National Pension Commission (PenCom) has lifted the suspension placed on investment in commercial papers by Pension Fund Administrators (PFAs) in the country.

The National Pension Commission (Pencom) has announced that low-income earners can now choose between withdrawing their entire retirement savings or continuing to receive their current pension. A memo dated November 27, 2024, and signed by A.M. Salem, Head of the Surveillance Department at Pencom, outlined the new regulation. This change follows President Bola Tinubu's signing…

The National Pension Commission (PenCom) has announced the lifting of its suspension on pension fund investments in commercial papers where non-bank capital market operators serve as Issuing and Paying Agents (IPAs). This decision was disclosed in a statement on Tuesday and follows recent regulatory developments from the Securities and Exchange Commission (SEC). PenCom had imposed…

Retired civil servants, otherwise known as ‘senior citizens,’ are advising workers still in service to start preparing for retirement immediately upon receiving their appointment from the government. Some of them have lamented the struggle after leaving the service, and some believe that the contributory pension scheme should be stopped so they can focus on their…

Given the immense economic, development, and investment benefits inherent in the Contributory Pension Scheme (CPS), it is befuddling that most state governments are unwilling to do away with the cumbersome, burdensome and corrupt-laden non-contributory alternative.

Despite the perpetual frustration suffered by retirees across the country, it is disheartening that out of the 36 states of the federation; only seven are reportedly fully implementing the Contributory Pension Scheme (CPS) launched about 19 years ago to address the plight of ex-workers.