Pension

Pension

PenCom to hammer PFAs for wrong payment of death benefits

Leave a comment and share Chuks Udo Okonta Pension Fund Administrators (PFAs) will henceforth be liable and pay from their statutory reserve fund in the event of payment of death benefits to wrong beneficiaries, the National Pension Commission (PenCom) has warned. PenCom stated this in a circular entitled: ‘Addendum to […]

Pension

Lagos State pays N1.55bn to 287 retirees

From left: Director-General of Lagos State Pension Commission Mrs. Folashade Onanuga presenting a Honda certificate to a retiree at the event. Leave a comment and share Chuks Udo Okonta The government of Lagos State under the leadership of Governor Babajide Sanwo-Olu has disbursed N1,559,662,536.4 into Retirement Savings Account (RSA) of […]

Pension

Premium Pension unveils new brand identity, mobile app

The new logo Leave a comment and share Chuks Udo Okonta Premium Pension Limited, Nigeria’s fastest growing pension fund administrator, has announced a major rebranding to better reflect the company’s evolved positioning as a future-focused organisation, actively growing their members’ wealth so they can embrace their golden years. The Chief […]

Pension

NIA urges retirees to embrace annuity

Mrs. Ilori Leave a comment and share Chuks Udo Okonta The Nigerian Insurers Association (NIA) has implored retirees to embrace annuity products offered by insurance companies as a way of staying happy and guaranteeing steady income in retirement. The Association also asked prospective retirees to receive unbiased and independent practical […]

Pension

N1.03 trillion pension assets invested in banks – PenCom

Leave a comment and share Chuks Udo Okonta Pension Fund Operators (PFO) have invested over N1.03 billion out of the N9.37 trillion total fund assets in banks in the country, Inspenonline can report. According to data obtained from the National Pension Commission (PenCom), the banking sector seemed to be enjoying […]

Pension

IEI Anchor PFA pension assets rise to N92bn

Glory Etaduovie The Pension Assets Under Management(AUM) of IEI Anchor Pension Managers Limited has risen to N92 billion in its 2018 financial year end, rising by 35 per cent from N68.2 billion it was in the 2017 year end. Speaking at the 2018 Annual General Meeting(AGM) of the company in […]

Pension

Pension fund assets move up to N9.37trn

Mrs. Aisha Dahir-Umar Leave a comment and share Chuks Udo Okonta The pension fund assets stood at N9.37 trillion in July 2019, the National Pension Commission (PenCom) has said. PenCom stated this in a summary of pension fund assets as at July 31, 2019, published today on its website, adding […]

Pension

Expert charts ways for micro pension plan development

Dr. Apere   Leave a comment and share Chuks Udo Okonta Following the observations made by the National Pension Commission (PenCom) from inspections conducted on Pension Fund Administration’s (PFAs) branches in Ondo and Ekiti Sates, where issues such as inadequate staffing; poor record keeping; lack of staff training; inadequate information […]

Pension

PenCom recovers N16.01bn outstanding pension contributions with penalty from defaulting employers

Acting Director-General, PenCom, Mrs. Aisha Dahir-Umar Leave a comment and share Chuks Udo Okonta The National Insurance Commission (PenCom) has said the total recoveries of outstanding pension contributions and penalty from defaulting employers from inception to June 2019 amounted to N16.01 billion, comprising principal contributions of N8.22 billion and penalty […]