Kindly leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) has approved 29 commercial banks to provide residential mortgage lending services to Retirement Savings Account (RSA) holders. PenCom disclosed this in a document obtained by Inspenonline. PenCom stated that it wishes to inform stakeholders that further […]
Pension
159.91m informal sector workers shut out of micro pension plan as PFAs register 89,327
Kindly leave a comment and share Chuks Udo Okonta A whopping 159.91 million informal sector workers in the country are yet to be convinced by Pension Fund Administrators (PFAs) to embrace the Micro Pension Plan (MPP) at a time only 89,327 of them have been registered as at December 2022 […]
Pension fund assets soar to N14.99tn
Kindly leave a comment and share Chuks Udo Okonta The pension fund assets stood at N14.99 trillion as at December 31, 2022, the National Pension Commission (PenCom) has said. PenCom in it report on pension industry portfolio for the period ended December 31, 2022, noted that the assets gained N199.17 […]
Enhanced pension for programmed withdrawal retirees only leaves life annuity retirees in limbo
Kindly leave a comment and share Dr Pius Apere (PhD/FCII) (Actuarial Scientist and Chartered Insurer) Chairman/CEO Achor Actuarial Services Limited 1. Introduction There had been a delay in the implementation of the guaranteed minimum pension (GMP) leading to retirees’ inability to have sustainable standard of living in retirement. This could […]
Stanbic IBTC Pension Managers debunks defying Pencom’s directive on gifts
Kindly leave a comment and share Chuks Udo Okonta Stanbic IBTC Pension Managers Limited said its attention has been drawn to publications by some unguarded sections of the media wherein certain unfounded, incorrect and defamatory assertions are being peddled about it. It noted that the alleged falsehoods stated that Stanbic […]
Unhealthy competition pushes RSA transferred fund to N420.28bn
Kindly leave a comment and share Chuks Udo Okonta The quest by Pension Fund Administrators (PFAs) to get existing Retirement Savings Account (RSA) holders as against prospecting fresh contributors has pushed transferred pension fund to N420.28 billion. Inspenonline gathered that the quest now forces RSA holders to transfer their funds […]
PenCom clears 181 employers for Fed Govt business
Kindly leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) as at January 13, 2023, has issued certificate of compliance to 181 employers to enable them transact business with the federal government. PenCom stated this in a document entitled: Schedule of Employers Issued with Certificate of […]
FG releases N13.89bn for payment of CPS 2022 retirees
Kindly leave a comment and share Chuks Udo Okonta The Federal Government has released N13.89 billion for payment of accrued pension rights for Contributory Pension Scheme (CPS) retirees who retired in the year 2022, National Pension Commission (PenCom) has said. PenCom noted that the release for for retirees under treasury-funded […]
Issues in pension enhancement vis-à-vis pension review and constitutional provision by Ivo Takor
Kindly leave a comment and share The National Pension Commission (PenCom) on 20 December, 2022 announced pension enhancement for retirees on programmed withdrawal under the Contributory Pension Scheme (CPS), who have accumulated significant growth in their Retirement Savings Accounts (RSAs) with effect from February 2023. The current enhancement will be […]
Premium Pension hits N1tn assets under management
Kindly leave a comment and share Chuks Udo Okonta Premium Pension Limited, one of the first seven Pension Fund Administrators (PFAs) to be licensed in December 2005 has attained a position of over N1 trillion in Assets under Management (AUM). A statement by the firm’s Head, Corporate Communications, Aliyu Mohammed […]
