How pension multi-fund structure works – Philips

Phillips Recently the Zonal Head, South-West Zonal Office, National Pension Commission (PenCom), Mr. Babatunde Philips, was a special guest on the popular Retirement Radio Programme – Retirement Mata – on Naija 102.7 FM. The 30 minutes (5PM to 50.30PM) Pidgin English programme packaged and presented by Chuks Udo Okonta of Inspen Media and is sponsored […]

PenCom ups regulations with zero tolerance for non-compliance

Mrs. Aisha Dahir-Umar Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) says it has adopted zero tolerance for non-compliance and consultative supervisory philosophy in the issuance of guidelines and the review of existing ones to further promote sound corporate governance in the industry and ensure the security of the pension […]

CPS: PenCom hammer dangles on defaulting employers

Takor Leave a comment and share Chuks Udo Okonta Employers of labour who employ over three people and have not joined the Contributory Pension Scheme (CPS), refusing to open Retirement Saving Account (RSA) for their employees as stated in the Pension Reform Act (PRA) 2014, thereby depriving those employees of pension right have been implored […]

Lagos State pays N688m accrued pension rights

Ambode Leave a comment and share Chuks Udo Okonta The Lagos State Government has released the sum of N688 million to be paid to 178 retirees from the Public Service Office for the month of October, 2018. A statement by Mrs Ajoke Lawal of Public Affairs Unit, Lagos State Pension Commission (LASPEC) stated that the […]

95,830 retirees without pension get N23.96bn payoff

Leave a comment and share Chuks Udo Okonta Pension Fund Administrators (PFAs) have paid N23.96 billion to 95,830 retirees whose total pension contributions could not afford them annuity or programmed withdrawal plans. According the National Pension Commission (PenCom) in its second quarter 2018 report, retirees whose Retirement Savings Account (RSA) balance were N550,000 or below […]

PenCom recovers N14.38bn outstanding pension contributions from defaulting employers

*Pulls N49.31bn from 5,427 firms issued clearance certificates Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) said it has recovered N14.38 billion, comprising principal contribution of N7.48 billion and penalty of N6.96 billion outstanding pension contributions from defaulting employers since it engaged the services of recovery agents. The pension regulator […]

Premium Pension grows RSA numbers by 4.96% in nine months

From left: Executive Director, Premium Pension Limited, Kabir Tijani; Managing Director/Chief Executive Officer, Umar Mairami; Executive Director, Kemi Oluwashina and Head Corporate Communications, Aliyu Mohammad Ali at the event. * Sets five years strategic plan Leave a comment and share Chuks Udo Okonta Premium Pension Limited says it recorded a 4.96 per cent growth in […]

PenCom commences pidgin Radio programme

Leave a comment and share In a bid to further enlighten the public on the Contributory Pension Scheme, a radio programme titled “ Retirement Mata ” sponsored by the National Pension Commission debuted on the 26th October, 2018. A statement by the Head, Corporate Communications, PenCom, Peter Aghahowa, noted that Retirement Mata is a weekly […]

PenCom releases new guidelines to regulate voluntary contributions

Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) in furtherance of carrying out its mandate of regulating the pension industry has issued new guidelines to regulate the operation of Voluntary Contributions (VC). A statement by the Head, Corporate Communications, PenCom, Peter Aghahowa, stated that it is pertinent to note that […]

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 […]
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