Director-General PenCom Mrs. Chinelo Anohu-Amazu Leave a comment Chuks Udo Okonta The Federal Government has paid N496,58 billion pension accrued rights of 99,069 Retirement Savings Accounts (RSAs) and Defined Benefits Accounts (DBAs) holders as at third quarter of 2015, Inspen has learnt. It was gathered that the amount was […]
Pension
PFAs, insurers’ unhealthy competition puts retirees’ money at risk
Insurance companies and Pension Fund Administrators are engaged in an unhealthy competition to the detriment of retirees in their quest for a larger share of the growing pension funds, NIKE POPOOLA reports Crave for pension money The desire for a larger share of the growing pension funds is making the […]
Stakeholder wants President Buhari to use pension tackles corruption
President Buhari Leave a comment Chuks Udo Okonta President Muhammadu Buhari has been urged to use the enforcement of Contributory Pension Scheme (CPS) as tool to tackle corruption as people will shun illicit activities when they know their future is secured. A concerned stakeholder said this in Lagos, stressing that […]
States’ pension woes split democrats and union allies
A $1 trillion U.S. pension gap is dividing two longtime allies: Democrats and unions. Left-leaning politicians from Rhode Island to California are increasingly supporting more aggressive overhauls of government pension benefits despite opposition from labor officials, traditionally one of the Democratic Party’s biggest policy and electoral supporters. The erosion of […]
What will happen to pensions in 2016?
2015 has been a huge year for pension changes – but 2016 could also be packed with surprises This year has been one of huge changes to the pensions landscape. In April new freedoms were introduced that allow savers to spend their retirement funds how they like. Or at least […]
PFAs keep RSA fund from foreign securities
Leave a comment Chuks Udo Okonta Pension Fund Administrators (PFAs) have withheld Retirement Saving Accounts of active contributors and retirees from foreign shares and money market securities. The National Pension Commission (PenCom) in an investment summary of October, 2015, said no investment was made in foreign securities from retirement saving […]
Ghana: National Pension Scheme Transfers Funds
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 […]
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 […]
