The National Pensions Regulatory Authority (NPRA) has transferred a total of GHS 193,116,008.95 to Licensed Trustees administering mandatory 2nd Tier Occupational Pension Schemes. The amount represents total funds transferred to Trustees in 2015. The Authority commenced the transfers in November this year after applicants (Licensed Trustees) had successfully gone through […]
Pension
Protests mar pension sector in 2015
The inability of federal and state governments to meet the needs and demands of pensioners resulted to several protests staged across the country this year. Aggrieved pensioners staged the latest of such protests this Wednesday in Yenagoa, Bayelsa State, over four-month arrears of unpaid retirement benefits. “We are owed from […]
Contributory pension assets rise to N5.14tn
Mrs. Chinelo Anohu-Amazu Nike Popoola The total assets under the Contributory Pension Scheme rose to N5.14tn at the end of October this year. Figures obtained from the National Pension Commission on Wednesday showed that 56.28 per cent of the money totalling N2.8tn was invested in Federal Government of Nigeria bonds, […]
PenCom goes appealing for adoption, implementation of CPS
Mrs. Anohu-Amazu Leave a comment Chuks Udo Okonta Worried by the low adoption and implementation of the Contributory Pension Scheme (CPS) the National Pension Commission (PenCom) has appealed to states and local governments to immediately comply to avail their employees of the numerous benefits of the scheme. The Director-General PenCom […]
Retirees in Lagos State get N1.9 billion cash
Leave a comment Chuks Udo Okonta The Lagos State Government has paid another batch of retirees numbering 298 from the State Public Service for the month of December.This, Dr. Akintola Benson Oke, the Commissioner for Establishments, Training and Pensions says demonstrates government’s commitment to the welfare of its workers that […]
Pensioners Ask Government To Pay Arrears
Pensioners The Nigerian Union of Pensioners have asked the federal and state governments to pay all pension arrears they are owing retirees to ease their sufferings. The union made the appeal at a news conference to mark the 2015 Pensioners’ Day at the Nigeria Labour Congress headquarters in Abuja. December […]
CPS good tool of managing finances – PenCom
Mrs. Chinelo Anohu-Amazu Leave a comment Chuks Udo Okonta The adoption of Contributory Pension Scheme (CPS) by States is one effective tool of managing finances, especially at a time of lean available public resources, the National Pension Commission (PenCom), has canvassed. Its Director-General Mrs. Chinelo Anohu-Amazu, said this at the […]
THE IMPLICATIONS OF PRA 2014 ON MANAGEMENT OF PRIVATE SECTOR GRATUITY AND PENSION SCHEMES
Presented By Dr. Pius Apere (PhD / FCII) (Actuarial Scientist / Chartered Insurer) Deputy Managing Director Linkage Assurance Company PLC Email: p_apere@hotmail.com Tel: +234(0)7086438525 December 2015 Introduction The Nigerian pension industry currently consists of three pillars, namely the public sector Pay-As-You-Go (PAYG) defined benefit (DB) schemes, private sector defined benefit […]
Expert canvasses floating of bond to deflate pension accrued rights
Leave a comment Chuks Udo Okonta An expert in pension matters has called on all levels of government to consider floating of bond to address the present challenge of accrued pension rights that has denied many retirees their pension benefits. The Regional Manager South West of Premium Pension Limited, Fatai […]
Lagos set to review pension payment family of deceased staff
The Lagos State Government is currently reviewing payment of an additional 20 percent of accruable rights to the family of a deceased staff apart from the basic entitlements under the State Pension Law 2007. According to a statement issued by the State Ministry of Finance, the proposal is part of […]
