Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) has expressed worries over the irregular funding of Retirement Savings Accounts (RSAs) by employers as out of the 9.27 million accounts as at December 31, 2020, 3.5 million had funding issues. PenCom stated this in a report […]
Pension
Pension fund operators earn N136.45bn income in 2020
Leave a comment and share Chuks Udo Okonta Pension Fund Operators (PFOs), which are Pension Fund Administrators (PFAs); Closed Pension Fund Administrators (CPFAs) and Pension Fund Custodians (PFCs) generated a combined earnings of N136.45 billion in 2020, the National Pension Commission (PenCom) has said. Data obtained from PenCom revealed that […]
Pension fund assets gain N100.57bn in one month, peak at N13.00tn in September 2021
Leave a comment and share Chuks Udo Okonta The pension fund assets gained N100.57 billion between August and September 2021, moving from N12.90 trillion to N13.00 trillion. This was revealed in data obtained from the National Pension Commission (PenCom). According to the pension industry regulator, the value of the N13.00 […]
Premium Pension receives two ISO recertifications
Leave a comment and share Chuks Udo Okonta Premium Pension Limited, one of the leading Pension Fund Administrators (PFAs) in Nigeria received two International Standard Organisation’s (ISO) recertifications recently. A statement by the firm’s Head, Corporate Communications, Aliyu Mohammed Ali, said the ISO recertifications are on Information Security Management System […]
Top five leading PFAs by RSAs
Leave a comment and share Chuks Udo Okonta Stanbic IBTC Pension Managers Limited 1,896,654 ARM Pension Managers 800,714 Trustfund Pension Limited 767,475 Premium Pension Limited 743,084 Sigma Pension Limited 739,041 Source: PenCom 2nd quarter 2021 report.
38,518 aggrieved RSA holders transfer N148.1bn fund in 11 months
Leave a comment and share Chuks Udo Okonta The RSA Transfer System (RTS) is gaining traction as 38,518 aggrieved Retirement Savings Account (RSA) holders have within a space of 11 months, transferred N148.1 billion from their former Pension Fund Administrators (PFAs) to new pension administrators. This was obtained by Inspenonline […]
PenCom extends 2021 online retiree verification, enrolment
Leave a comment and share The National Pension Commission (PenCom) has extended the online verification and enrolment for 2021 retirees and other prospects in the ministries, departments and agencies (MDAs) from October 31 to December 31, 2021 to enable them complete the online enrolment process. The Head, Corporate Communications, PenCom, […]
PFAs register 3,555 micro pension contributors in Q2 2021
Leave a comment and share Chuks Udo Okonta Nineteen Pension Fund Administrators (PFAs) registered 3,555 contributors under the Micro Pension Plan (MPP) during the second quarter of 2021, the National Pension Commission (PenCom) has said. The pension industry regulator stated this in its second quarter 2021 reports, adding that six […]
CPS: PenCom to take legal action against 19 defaulting employers
Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) said 19 defaulting employers have been recommended for appropriate legal action over their failure to contribute and remit pension funds for their workers. PenCom stated this in its second quarter 2021 reports, adding that following the issuance […]
Standard Bank eyes imminent retiree-boom in Nigeria
*Lender targets 10% of Nigeria’s life insurance market *Number of pension fund contributors retiring set to rise By Emele Onu, Bloomberg Standard Bank Group, Africa’s biggest lender, is targeting annuity to expand in Nigeria as an imminent retirement boom presents opportunity to increase life insurance penetration in the continent’s most […]
