PenCom tackles illegal collection of death benefits

Acting Director General of PenCom, Mrs. Aisha Dahir-Umar Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) has initiated measures to address complaints from retirees, who alleged that Pension Fund Administrators (PFAs) wrongfully paid death benefits to their Next-of-Kin/Legal beneficiaries, while they are still alive and in active service without their […]

Pension assets soar to N8.33trn as FG securities gulp N5.78trn

Acting Director General of PenCom, Mrs. Aisha Dahir-Umar Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) says the total pension fund assets as at August 31, 2018, was N8.33 trillion, and N5.78 trillion of the amount has been invested in Federal Government’s securities. PenCom stated this in its monthly report, […]

Pension annuity contributes 60% to life insurance business

Leave a comment and share Chuks Udo Okonta Pension benefit annuity contributes 60 per cent of the total gross income of Life Insurance Business, Inspenonline can report. The Director-General, Nigerian Insurers Association (NIA), Mrs Yetunde Ilori, who disclosed this at the 2018 Chartered Insurance Institute of Nigeria (CIIN), Offices Representative Committee (ORC) workshop in Lagos, […]

Lagos State pays N40.25bn accrued pension rights

Ambode Leave a comment and share Chuks Udo Okonta Lagos State Government has paid N40,245 billion accrued pension rights into retirees Retirement Savings Accounts (RSA) from the inception of Governor Akinwunmi Ambode administration till date, even as, N795 million was paid to 213 public service retirees under the Contributory Pension Scheme (CPS) in September, 2018. […]

Expert implores PFAs to keep tabs on N710bn invested in blue chip companies

Leave a comment and share Chuks Udo Okonta Pension Fund Administrators (PFAs) have been implored to protect their interest in blue chip companies quoted on the Nigerian Stock Exchange (NSE) where N710 billion equity investments have been made as at June, 2018. The former Director General, National Pension Commission (PenCom) Muhammed Ahmad, who stated this […]

PenCom implores PFAs to pay retirees, foreigners full voluntary pension contributions

Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) has mandated all Pension Fund Administrators (PFAs) to allow retirees and foreign contributors to withdraw all the Voluntary Contributions (VCs) in the Retirement Saving Accounts (RSA) at the expiration of their contract employment. PenCom stated this in a circular entitled, Addendum to […]

15 States implement key provisions of CPS – PenCom

Mrs Aisha Dahir-Umar Leave a comment and share Chuks Udo Okonta 15 States in the federation have commenced implementation of key provisions of the Contributory Pension Scheme (CPS), the National Pension Commission (PenCom) has said. The pension regulator noted that 24 states have enacted laws and domesticated the Pension Reforms Act(PRA) 2014 into their respective […]

PenCom works on guideline to ease voluntary pension contributions

Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) has heeded to demands of most employees who desire to make voluntary pension contributions, but are constrained by the policy which requires that such contributions be made through employers. Finding revealed that most employees who employers are not contributing/remitting their pension contributions […]

PenCom watches NAICOM’s tier-based policy on annuity with keen interest

Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) is closely monitoring the Tier-Based Minimum Solvency Capital (TBMSC) introduced by the National Insurance Commission (NAICOM) to ensure the safety of pension annuity business presently in the hands of some Life Insurers. A source at the PenCom told this medium that whilst […]

FG approves micro pension plans, to be launch January 2019

From left:Managing Director, ARM Pensions, Wale Odutola; Head, Corporate Communications National Pension Commission, Peter Aghahowa and Executive Secretary, Pension Fund Operators Association of Nigeria , Ms. Susan Oranye at the event. Leave a comment and share Chuks Udo Okonta The Federal Government has approved the Micro Pension Plan, which is expected to attract N3 trillion […]
Copyright © 2018 inspenonline · All rights reserved · Copyright 2015 Inspen Media designed by bdeweb@+2348027237838