Leave a Comment Chuks Udo Okonta Six states have remitted N34 billion into their Retirement Benefit Bond Redemption Fund Accounts (RBBRFAs) the National Pension Commission (PenCom), has said. The commission in a report, said as at the end of first quarter this year, Lagos State had remitted N10 billion; Ogun, […]
Pension
Longe now PenOp’s Chairman
Leave a Comment Chuks Udo Okonta The Managing Director AIICO Pension Managers Limited Eguarekhide Longe, today emerged the Chairman of the Pension Fund Operators Association of Nigeria (PenOp). He was elected into the position at the association’s annual general meeting in Lagos. He is taken over the mantle of leadership […]
Retirees brace for hardship as multi-employer pension cuts loom
Of all the negative financial surprises that can hit in retirement, learning a “guaranteed” pension could be severely cut is among the worst. As the Treasury Department recently held a hearing on implementing a new law that allows pension cuts in troubled multi-employer pension plans covering about 10 million workers, […]
PenOp seeks release of FG retirees’ accrued rights
Leave a comment Chuks Udo Okonta The Pension Fund Operators Association of Nigeria (PenOp) has called on the Federal Government to urgently release the outstanding accrued rights of its retirees so that their benefits can be processed and settled. The President of PenOp Misbahu Yola, said this at a media […]
FG discovers N20m excess in police pension account
The Federal Government, through the Pension Transitional Arrangement Directorate (PTAD) said it discovered about N20 million excess payment in the police pension account. It has, therefore set out to clean up the civil service starting with the verification of over 100,000 civil service pensioners to identify ghost beneficiaries. Director General […]
What’s the matter with Union Bank?
SIR: We, the aggrieved pensioners of Union Bank of Nigeria Plc nationwide (pensioners from 2006 to 2014) have been maltreated, pauperized, traumatized, tortured, tormented and completely dehumanized by the recalcitrant posture of Union Bank and PENCOM. Some have been sent to their early graves. For almost four years, Union Bank […]
How to save up for retirement
Saving for retirement is important but how you go about it is a challenge. There are so many products and it’s not so easy to decide between them. In this article, I will be looking at three of the products that you can use to save for your retirement namely […]
How the world’s big pension funds view China
Hot money may be flowing out of China’s markets amid a persistent economic slowdown, but slower-moving institutional money is taking a longer view. “China is absolutely critical in anyone’s portfolio,” Adrian Orr, chief executive of the New Zealand Superannuation Fund, a pension fund with around $29.5 billion in assets, told […]
Pension: Your contributions not enough guarantee for mortgage
Leave a comment Chuks Udo Okonta Retirement Savings Account (RSA) holders who believed the proposed mortgage finance by the National Pension Commission (PenCom) is a panacea to their quest for befitting homes, should be ready for surprises as an operator has said that just having a contribution is not a […]
UK Employer pension contributions collapse by 48% in a year
Fears have been raised that employers are slashing the amount they pay into workers’ pensions in an attempt to save money, after official figures revealed a near-50% collapse in contribution rates in 12 months. The Guardian reported that the average amount being paid into private-sector defined contribution (also known as […]
