Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) has reiterated that the over N5.31 trillion pension funds are not laying idle in any bank account as alleged by those who do not understand the working of the Contributory Pension Scheme (CPS). Its Director-General Mrs Chinelo […]
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PenCom creates special function unit to drive micro pension
Director-General PenCom Mrs. Chinelo Anohu-Amazu Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) has established a special function unit to drive the micro pension plan, Inspen can report. The commission disclosed this on its website, stressing that in implementing the micro pension initiative, the informal […]
South African insurer to enter Australian retail market
South African insurance company Professional Provident Society SA is set to enter Australia’s retail life insurance market with a focus on targeting professionals through the advice channel. According to a statement, the new business, PPS Mutual – to be headed by former Centric Wealth CEO Michael Pillemer – will look […]
PFAs are ready for 20m anticipated subscribers – Longe
The Contributory Pension Scheme (CPS) remains the best initiative the pension industry has ever had, as it is able to tackle corruption and also ensure better life for workers at retirement, a characteristic that was lacking in the old pension scheme. In this interview with Chuks Udo Okonta, the President, […]
Pension and National Insurance hikes to hit academics hard
Extra contributions are likely to cost many university staff more than £1,000 a year, analysis shows By Jack Grove Thousands of university staff will soon see their take-home pay fall by about £100 a month when changes to state and occupational pension schemes take effect, an analysis has shown. Almost […]
Beauty Queen plans big for insurance
Miss Insurance 2016 winner Adaeze Okeke on Wednesday pledged that she would persuade Nigeria’s 170 million population to take up insurance policies before the end of this year. Okeke made the pledge on Wednesday when she paid a courtesy visit to Linkage Assurance Plc at Lekki, Lagos. She said that […]
Reps to probe organisations over non-remittance of pensions
Dogara Organizations who do not remit their staff’s pension contributions to Pension Fund Administrators (PFAs) are to face probe by the House of Representatives, the legislative body said on Tuesday, February 16. Nigerian pension scheme has been fraught with complaints by employees about illegal action of non-remittance of their contribution […]
Pension operator accuses insurance agents of mis-selling
Leave a comment and share Chuks Udo Okonta Underwriting companies have been urged to clean up the insurance agency system to stem the unethical practices being perpetuated by some of their agents. A Pension Fund Administrator (PFA) disclosed this in an interview with Inspen, stressing that the unhealthy marketing in […]
Kenya lacks talent in insurance industry – EY report
By RICHARD MUNGA A large number of Kenyan insurance agents and marketers are unqualified holding back growth opportunities for the local insurance industry, according to EY’s study on insurance opportunities in sub-Saharan Africa. The report states the agents and marketers lack specialisation and sophistication in insurance products, leaving insurers to […]
Namfisa investigates Lewis for selling insurance
The Namibia Financial Institutions Supervisory Authority (Namfisa) says it is aware of complaints against South African furniture franchise, Lewis. Lewis has been accused of acting as an intermediary for products regulated by the Long-Term Insurance Act, while it is not registered under the Act to do so. Namfisa says investigations […]
