Pensioners accuse PenCom of defaults, seek payment of 2017 retirement benefits

Federal Government Pensioners, who are under the Contributory Pension Scheme (CPS) have written to the National Pension Commission(PenCom) demanding for the payment of pension entitlements of retirees who retired from January 2017 till date. They said the commission alongside the Federal Government have always promised them prompt payment of pension immediately after retirement or at […]

Rage of senior citizens

Pensioners are unhappy with the Federal Government. They are not paid promptly by the National Pension Commission (PenCom); interest is not paid on accrued rights held at the Central Bank of Nigeria (CBN) since the commencement of the Contributory Pension Scheme (CPS); and calculation of pension entitlement is opaque, among others, Omobola Tolu-Kusimo reports. Thousands […]

PenCom’s laxity threatens pension growth

Acting Director General PenCom, Aisha Dahir-Umar Key initiatives conceived to propel the pension industry to lofty heights have in recent times been stalled by the laxity exhibited by the management of the National Pension Commission (PenCom). Chuks Udo Okonta, in this report examines the initiatives and how they can be reinvigorated to meet set objectives. […]

Transfer Window: PenCom’s laxity stalls contributors’ hope

Aisha Dahir-Umar By Sunday Ojeme The expectation by pension contributors under the Contributory Pension Scheme (CPS) to switch from their original Pension Fund Administrators (PFAs) to another of their choice has been stalled due to the current management of National Pension Commission’s (PenCom) inability to deal with the situation. New Telegraph learnt that the change […]

Lagos State equips workers for better life in retirement

Lagos workers during a pre-retirement seminar Lagos State Governor, Akinwunmi Ambode has said that the State is helping retirees and pensioners to manage their transition from active service to retirement. Ambode, represented by Commissioner, Lagos State Ministry of Establishments, Training and Pensions, Dr. Akintola Benson spoke at the opening session of the workshop tagged: ‘How […]

Declining Activities at PenCom

Aisha Dahir-Umar Ebere Nwoji reports that the lull in activities at PenCom, especially those aimed at educating Nigerians on the Contributory Pension Scheme, is a major source of worry for pension industry stakeholders The National Pension Commission (PenCom) was established at a time Nigerians were helpless about pension fund management. Negative reports on pension matters […]

PFAs inject N5.29trn in FG securities

Leave a comment and share Chuks Udo Okonta Pension Fund Administrators (PFAs) invested N5.29 trillion out of the N7.52 trillion pension assets in Federal Government’s securities, as at the end of December 2017, the National Pension Commission (PenCom), has said. There was a drop, as N6.28 trillion out of the N7.41 trillion was invested in […]

PenCom wobbles with micro pension initiative

Leave a comment and share Chuks Udo Okonta In spite huge funds expended on the micro pension initiative by the National Pension Commission (PenCom), there are indictions that the scheme which was conceived to capture about 250,000 workers from the informal sector, has ran into boisterous storm. A statement by the commission in October 2016 […]

THE IMPACT OF NIGERIA CONTRIBUTORY PENSION SCHEME ON THE NATION’S ECONOMIC GROWTH

Takor THE IMPACT OF NIGERIA CONTRIBUTORY PENSION SCHEME ON THE NATION’S ECONOMIC GROWTH The Contributory Pension Scheme for public and private sectors was established under the Pension Reform Act 2004, which was repealed and replaced with the Pension Reform Act 2014, in 2014. Section 4 of the Act, provides for a mandatory minimum contribution of […]

LASG pays N723m accrued pension rights to 149 retirees

Ambode Leave a comment and share Chuks Udo Okonta The Lagos State Government at the 47th Retirement Benefit Bond Certificate (RBBC) presentation ceremony yesterday, Tuesday, in Ikeja, paid accrued pension rights of N723 million into the Retirement savings Accounts of 149 retirees of the Public Service. A statement by Mrs Ajoke Lawal of Public Affairs […]
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