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…

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…

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.…