Wednesday, 8th December 2021
Breaking News:

Pension Reform Act

23 Jan
In and out of service, succour appears far from some serving and retired soldiers and policemen, as their welfare, entitlements and supply of needed equipment and ammunition to do their jobs lingers.
12 Mar 2020
Nigerian policemen who have been groaning over poor retirement benefits since the introduction of the Contributory Pension Scheme (CPS) with the Pension Reform Act of 2004 will have cause to smile soon if feelers that emerged from a three-day investigative hearing by the House of Representatives Committee on Pensions is anything to go by. The…
5 Sep 2019
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.
29 Apr 2019
The Federal Government is yet to commence the implementation of the revised 18 per cent minimum pension contributions for its employees as stipulated under Section 4 of the Pension Reform Act (PRA) 2014.   Recall that the PRA 2014 stipulates that the “contribution for any employee to which this Act applies shall be made in…
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…
28 Jan 2019
Annuity provided the largest chunk of premium income, amounting to N77.77 billion, representing 48 per cent of total earnings to Life Insurance companies in 2017.   Data obtained from the Nigerian Insurers Association (NIA) revealed that Life Insurers earned N44.58 billion, 28 per cent from group life policy and N39.27 billion from individual life business.…
27 Aug 2018
Corporate organisations in the Information Technology (IT) and real estate sectors have joined a number of other sector operators to defy the rules of the Pension Reform Act (PRA) 2014, which mandated them to register their workers under the Contributory Pension Scheme (CPS).
17 Nov 2017
Since pension is seen as an invaluable source of income for the retired, and the Federal Government so motivated, introduced the Pension Reform Act of 2004, it should not be a surprise that within 13 years from inception....
24 Jul 2017
The Pension Reform Act (PRA) 2004, as repealed by PRA 2014, has been described as being beneficial to government through its support for overall macroeconomic policy reforms. 
25 Apr 2017
A lot of Nigerian’s are disappointed that some public officers are earning humongous pensions from their previous offices while still serving in other capacities in government.
28 Jan 2017
The Federal Government is currently unable to meet its obligation to its retirees because it cannot cash back the Federal Government Retirement Benefits Bonds currently sitting at the Central Bank of Nigeria.


45 mins ago
The death toll from the eruption of Indonesia's Mount Semeru has risen to 39, authorities said Wednesday, as rescuers scrambled to retrieve more bodies under the threat of further volcanic activity.
47 mins ago
Minister of Interior, Ogbeni Rauf Aregbesola, Wednesday said he will not resign despite the calls, following recurring ijail breaks across the country in the past one year. Aregbesola, whose ministry oversees the Nigeria Correctional Service across the country, spoke to newsmen at the end of the weekly virtual Federal Executive Council (FEC) which held at…
50 mins ago
Brazilian football legend has been hospitalized for treatment of a previously identified colon tumour, his doctors said Wednesday, the latest health problem for the 81-year-old icon.
52 mins ago
An operative of the Nigeria Security and Civil Defence Corps (NSCDC) and four contract staff at Conoil field in Bayelsa, kidnapped by suspected pirates on Dec. 1, have regained freedom.
1 hour ago
Saudi Arabia authorities have suspended flights coming from Nigeria into the kingdom due to the outbreak of the new COVID-19 variant Omicron. An official of the Saudi embassy in Nigeria who did not want his name mentioned because he was not authorized to interface with the media, said the Kingdom took the decision to prevent…