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.

The National Pension Commission (PenCom) has urged pension fund administrators (PFAs) to desist from further investment in commercial papers where capital market operators (non-banks) are engaged as Issuing and placing agents (IPAs).

Following the assurance of the National Pension Commission (PenCom) to pay all outstanding pension liabilities soon, findings have shown that many retired civil servants are yet to receive their pension.

The National Pension Commission (PenCom) has called on the industry’s stakeholders on actionable steps to ensure sustainable development and long-term success towards achieving the Federal Government’s $1 trillion economy by 2030.

Industry stakeholders have emphasised the need to prioritise sustainability and good governance as integral components of firms’ survival strategies. This was the consensus at the 2024 Annual Corporate Governance Conference

The newly formed Access ARM Pensions Limited, a merger of Access Pensions and ARM Pensions, has officially started business with a commitment to drive innovation and expand pension coverage into Nigeria's vast informal sector.