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
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 […]
Where we are on transfer window – PenOp boss
Leave a comment and share Chuks Udo Okonta Those awaiting the commencement of the pension transfer window to switch from their Pension Fund Administrator (PFA) to another have to wait awhile as efforts to entrench a seamless process is still in the making. Inspen gathered that the National Pension Commission […]
Lagos State set to implement PRA 2014
Leave a comment and share Chuks Udo Okonta Lagos State is almost set to commence implementation of the Pension Reform Act 2014, Inspen can report. Investigations revealed that the state is putting finishing touches on its legislation to pave way for the implementation. Director-General Lagos State Pension Board (LASPEB) Mrs […]
PRA 2014: Private sector pushes compliance to 60%
Longe Leave a comment and share Chuks Udo Okonta Pension contributions by the private sector have shore up implementation of the Pension Reform Act (PRA) 2014 to 60 per cent, Inspen can report. The President Pension Fund Operators Association of Nigeria (PenOp) Eguarekhide Longe, said this in an interview with […]
Pensioners Picket First Bank Over N15,000 Monthly Pension, Others
Fisrt Bank Penssioners Union on Monday picketed the main branch of First Bank in Kaduna over alleged failure of the bank to improve the welfare of its pensioners. The National Chairman of the union, Alhaji Mohammed Bungudu told the News Agency of Nigeria (NAN) that the picketing was going on […]
Positive outlook for new pension regime – Petra Trust CEO predicts
By: Samuel Doe. Ablordeppey The Managing Director of asset management company Petra Trust, Mr Kofi Fynn, has said the economy will experience enhanced benefits from the current pension regime when more innovative products emerge on the market as investment instruments for fund managers. He said since investment channels were largely […]
Global Pension Assets Nicked by Market Troubles in 2015: Study
Market turmoil around the world took its toll on pension assets last year, according to a new study by Willis Towers Watson Plc, the London advisory firm. Specifically, pension assets relative to gross domestic product declined 3.9 percentage points in 2015 to 80.3% from 84.2% the year before. Pension assets […]
Canadian pension funds hit hard by global market volatility
Janet McFarland Canadian pension plans took a major hit in January from turmoil in global markets, suffering a drop in their funding solvency as bond yields fell and their investment portfolios posted losses. Pension consulting firm Aon Hewitt said the median solvency ratio for pension funds it tracks fell by […]
Pension savers flee for the safety of annuities as stock market tumbles
By Harvey Jones Annuity sales collapsed after pension freedoms were launched in April last year as hundreds of thousands celebrated their liberation from the obligation to lock into a lifetime income at retirement. Many either cashed in their lifetime savings or took an income drawdown plan, leaving their pension invested […]
