insurance and pension news
Monday, February 3, 2025
*Empowers retirees with sufficient funds to obtain significant lump sum amount Kindly leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) has lifted the restriction of lump sum access to a maximum of 50 per cent of the Retirement Savings Account (RSA) balance to enable retirees […]
Kindly leave a comment and share Chuks Udo Okonta Stanbic IBTC Pension Managers, a leading pension fund administrator in Nigeria, is proud to announce that it has been awarded the prestigious title of ‘Most Financially Inclusive Pension Company of the Year’ at the recently held International Financial Inclusion Conference (IFIC’24). […]
By Ivo Takor Introduction The news making the rounds is that the Federal Government has released funds amounting to N44 billions to settle the accrued pension rights of federal retirees in Ministries, Departments, and Agencies (MDAs). According to the National Pension Commission (PenCom), the funds will cover retirees who left […]
Kindly leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) has announced the release of ₦44 billion by the Office of the Accountant General of the Federation (OAGF) as part of the 2024 budget appropriation for the period January to June. These funds have been deposited […]
Kindly leave a comment and share Chuks Udo Okonta Amid calls from some quarters for the police to exit the Contributory Pension Scheme (CPS), the military which exited the Scheme some years ago is having challenges in the payment of pensions to retired service personnel. It will be recalled that […]
Kindly leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) has lifted the restrictions placed on all Licensed Pension Fund Administrators (LPFAs) over investment in commercial papers where capital market operators (non-banks) are engaged as Issuing and Paying Agents (IPAs) without rules governing the issuance. PenCom […]
Kindly leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) has granted an approval for retirees whose monthly/quarterly pensions are less than N23,333.33, representing one-third of the current minimum wage of N70,000.00, an opportunity to choose between receiving the outstanding balance in their RSAs en bloc […]
Kindly leave a comment and share Chuks Udo Okonta The Inspector General of Police, Kayode Egbetokun, has kicked against the bill seeking to exempt the Nigeria Police from the Contributory Pension Scheme (CPS) saying that it will not favour the Police Force. Egbetokun who stated this while addressing some police […]
By Ivor Takor Introduction On Tuesday, November 19, 2024, the Senate Committee on Establishment and Public Service conducted a public hearing on a bill sponsored by Senator Binos Dauda Yaroe, representing Adamawa South. The proposed legislation seeks to establish the Police Pension Board, which would be responsible for managing the […]
Kindly leave a comment and share Chuks Udo Okonta The Senate has confirmed the appointment of Ms. Omolola Oloworaran, as the Director General of National Pension Commission (PenCom). The confirmation follows the consideration and adoption of the Report of the Senate Committee on Establishment and Public Service during today’s plenary. […]
