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 […]


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Contributory Pension Scheme for public and private sectors was established under the Pension Reform Act 2004, which was repealed and replaced with the Pension Reform Act 2014, in 2014.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 […]

PenCom strengthens risk management of PFAs with N100bn FUM

Leave a comment and share The National Pension Commission (PenCom) in a bid to ensure sufficient oversight and supervision of risk management processes, has directed Risk Management Departments of all Pension Fund Administrators (PFAs) with Funds Under Management (FUM) of N100 billion and above to report directly to the Managing Director/Chief Executive Officer. PenCom stated […]

FG approves pension enhancement for pensioners on CPS

Takor A cheering news came to pensioners who are on Programmed Withdrawal under the Contributory Pension Scheme managed by Pension Fund Administrators (PFAs) as the year 2017 came to an end. The National Pension Commission (PenCom) announced a maiden pension enhancement for this category of pensioners with effect from December 2017, with subsequent reviews to […]

Premium Pension appoints executive, non executive directors

Tijjani Leave a comment and share Chuks Udo Okonta The Board of Premium Pension Limited has appointed Kabir Ahmed Tijjani as an Executive Director and Lamido Yuguda as Non-Executive Director. A statement signed by Aliyu Mohammed Ali, forHead Corporate Communications, said the new appointments are expected to enhance robust business development by the Company. According […]

Premium Pension appoints Mairami as managing director

Mairami Leave a comment and share Chuks Udo Okonta Premium Pension Limited, has appointed Umar Sanda Mairami as the new Managing Director and Chief Executive officer. He succeeded Wilson Ideva, who formally retired from the Company. A statement signed by Aliyu Mohammad Ali, for Head Corporate Communication, said Mairami, is a seasoned banker of repute, […]

PTAD urges verified pensioners to exercise patience

Leave a comment and share Chuks Udo Okonta The Pension Transitional Arrangement Directorate (PTAD) has urged verified pensioners of Nigeria Insurance Corporation (NICON); Nigerian Defence Academy (NDA); New Nigeria Newspapers and Nigeria Re-Insurance to exercise little patience as information obtained from them is being processed. The Deputy Director, Corporate Communications, PTAD Emma Okondo, said this […]

FG securities gulp N6.28trn pension funds

Leave a comment and share Chuks Udo Okonta Pension Fund Administrators (PFAs) have invested N6.28 trillion out of the N7.41 trillion pension assets in Federal Government’s securities, as at the end of November 2017, the National Pension Commission (PenCom), has said. Data obtained from PenCom stated that 70.67 per cent of the pension funds had […]

PenCom clears 83 firms to bid Fed Govt contracts

Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) has issued compliance certificates to 83 companies to bid for Federal Government contracts this year. PenCom noted that as at January 3, 2018, the firms had met the requirements and have been cleared. Some of the firms are, Ghazi Shipping and Trading […]
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