Leave a comment and share Operators in the Nigerian Insurance and pension sectors have been tasked to leverage the opportunities thrown up by the COVID-19 pandemic to grow the sectors and contribute to the National economy. The operators of these two critical sectors are also charged on creativity and innovation […]
Pension
Non implementation of guaranteed minimum pension: Increasing apathy to join, remain in the contributory pension scheme
By Dr. Pius Apere (PhD/FCII) (Actuarial Scientist and Chartered Insurer) Chairman/CEO Achor Actuarial Services Limited Introduction Basically, the Nigerian Pension Industry has been operating two pension regimes concurrently since 2004, namely Pay-As-You-Go (PAYG) defined benefit (DB) scheme (the old unfunded pension regime) and the Contributory Pension Scheme (CPS) under the […]
PenCom, EFCC push for eradication of pension fraud, as CPS assets exceed N13tn
Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) today joined the Economic and Financial Crimes Commission (EFCC) in a sensitisation workshop on the eradication of pension fraud in Nigeria. The Director-General of PenCom, Mrs. Aisha Dahir-Umar, while giving her goodwill message at the event in […]
90.21m informal sector workers await PFAs to embrace micro pension plan
Leave a comment and share Chuks Udo Okonta Of the 90.91 million workers in the nation’s informal sector, just over 70,000 of them have embraced the Micro Pension Plan (MPP), leave 90.21 million out, Inspenonline can report. Data obtained from the National Pension Commission (PenCom) revealed that as at August […]
PenCom demands annual media campaign plan on micro pension from PFAs
Leave a comment and share Chuks Udo Okonta Two years after the launch of Micro Pension Plan (MPP) which presently has over 70,000 contributors, Pension Fund Administrators (PFAs) have been mandated to develop and forward an annual media campaign plan to drive subscription, to the National Pension Commission (PenCom) for […]
PenOp, LeapFrog Talent Accelerator hold leadership development session for pension executives
Leave a comment and share In recognition of the fact that the rapidly changing business environment requires transformational and effective leaders at all levels of the organisation, the Pension Fund Operators Association of Nigeria (PenOp) and the LeapFrog Talent Accelerator (an initiative launched by global impact investment firm, LeapFrog Investments) […]
37.09m employees await PFAs to embrace CPS
Leave a comment and share Chuks Udo Okonta Of the about 46.49 million employed persons working in the formal sector of Nigeria, just 9.4 million of them had subscribed to the Contributory Pension Scheme (CPS), leaving a whopping of 37.09 million of them out the scheme. Data obtained from World […]
Pensioners implore FG to pay outstanding monthly benefits
Leave a comment and share Chuks Udo Okonta The Association of Retired Federal Senior Public Officers of Nigeria (ARFESPON), has urged the federal government to prevail on the Pension Transitional Arrangement Directorate (PTAD), to pay up the difference in the monthly benefits payable to pensioners before the implementation of minimum […]
PFAs secure micro pension N177.38m fund in high yielding securities
Leave a comment and share Chuks Udo Okonta Pension Fund Administrators (PFAs) are keenly investing parts of funds contributed by micro pension contributors, in two major investment portfolios – federal government securities and local money market securities to enable them effectively grow the funds. Data obtained from the National Pension […]
Updated: Pension fund assets gain N470bn in seven months
Leave a comment and share Chuks Udo Okonta Contributions from Retirement Savings Account (RSA) holders and return on investment made by pension operators have enlarged pension fund assets to the tune of N470 billion in seven months, ranging from January to July 2021. Data obtained from the National Pension Commission […]
