Leave a comment and share Chuks Udo Okonta Disengaged workers who are privileged to subscribed to the Contributory Pension Scheme (CPS) now resort to 25 per cent withdrawal provided by the law for survival, Inspen can report. One of the disengaged workers from Ilorin, Kwara State, yesterday, called Inspenonline’s Office […]
Pension
GE agrees $3.4 billion deal to sell water business to Suez, Canadian pension fund
By Austen Hufford General Electric Co. GE, -0.20% said Wednesday it has agreed to sell its water and process technologies business to France’s Suez SA and one of Canada’s largest pension funds. Suez SEV, -0.18% and Caisse de dépôt et placement du Québec are buying GE Water in a deal […]
Pension fund manager, 45, at Westminster Council ‘stole more than £1million from his employer and transferred the cash into his wife’s bank account’
Ian Woodall, 45, allegedly abused his position at Westminster City Council In court with wife Tania, 46, who is charged with assisting in the transfer of cash Allegedly transferred over £1m in his role as chief investment officer at council A pension fund manager has been accused of stealing more […]
Sustainability vital for China’s pension funds
China is home to more than 220 million people over the age of 60 in China, or 16.1 percent of the population, and the numbers are growing. As the population ages, the country faces the challenge of building a more sustainable pension system. Since late 2016, China has invested an […]
CPS soars as 2016 pension contributions exceed 2015
Suleiman Leave a comment and share Chuks Udo Okonta With N763 billion contributed as pension fund in 11 months of year 2016, as against N670 billion achieved in the same period in 2015, the pension industry remained stable in spite the economy quagmire that impeded growth in many sectors of […]
Kaduna set to redeem N15.57b pension debts
By Hussaina Yakubu/Kaduna Kaduna State Government has approved modalities for settling the N15.57 billion pensions debts and death benefits of public servants in the state Kaduna State Head of Service, Mrs Bariatu Mohammed, made this known on Monday in Kaduna after the state executive council meeting She said the approval […]
National Pension System: Allowing systematic withdrawal plan is a good move
The Pension Fund Regulatory and Development Authority’s plan to offer systematic withdrawal plan (SWP)—where an individual can withdraw a fixed sum from his pension fund instead of buying annuities—to National Pension System (NPS) subscribers is a welcome move. An NPS subscriber has to mandatorily annuitise 40% of the maturity corpus, […]
About N763bn contributed as pension funds in 11 months
Leave a comment and share Chuks Udo Okonta Pension contributions between January and November 2016 stood at N763 billion, Inspen can report. Information obtained from the National Pension Commission (PenCom) revealed that the total pension assets as at January 2016 was N5.254 trillion but rose to N6.017 trillion in November. […]
PenCom eyes N10.04bn for pension protection fund
Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) says N10.04 billion is required to fund Minimum Pension Guarantee (MPG) which should carter for shortfall or financial losses arising from investment activities. PenCom in a presentation to the National Assembly, noted that Section 82(1) of the […]
Bid to pool councils’ £15bn pension pots in Wales
The £15bn pension pot of Wales’ council workers past and present and their dependants could be pooled to cut management costs, a report has said. There are eight groups managing the pension funds of Wales’ 22 councils. Pooling money could cut overheads and “significantly reduce costs”, the report to Flintshire […]
