By Shoko Oda and Shigeki Nozawa The world’s biggest pension fund posted a record loss in the first three months of 2020 after the coronavirus pandemic sparked a global market rout in the period. Japan’s Government Pension Investment Fund lost 11%, or 17.7 trillion yen ($164.7 billion), in the three […]
Pension
Retirees in FCT, four states get pension from CPS – PenCom
Leave a comment and share Chuks Udo Okonta Only four states and the Federal Capital Territory (FCT) are presently paying retirees through the Contributory Pension Scheme (CPS), the National Pension Commission (PenCom) has said. PenCom stated this in a publication entitled: Status of Implementation of CPS in States as at […]
PFOs take succour in bank placement as pension assets soar to N10.58tn
Leave a comment and share Chuks Udo Okonta Pension Fund Operators (PFOs) have taken succour in bank placement investment window due to the sharp drop in investment returns from treasury bills and federal government bonds, even as the pension assets soared to N10.58 trillion in April 2020. Data obtained from […]
Sanwo-Olu appoints Obilana as DG Lagos State Pension Commission
Obilana Leave a comment and share Chuks Udo Okonta Lagos state Governor Babajide Sanwo-Olu has approved the appointment of Babalola Obilana as the Director-General of Lagos State Pension Commission (LASPEC) in recognition of his outstanding performance and accomplishments in the financial sector. Obilana who takes over from Mrs. Folashade Onanuga […]
COVID-19 pandemic forces pension contributions down by 30%
Leave a comment and share Chuks Udo Okonta The lockdown which was herald by the COVID-19 pandemic has forced pension contributions and remittance down by at least 30 per cent, Inspenonline can report. The Managing Director of one of the nation’s Pension Fund Administrators (PFAs) told this medium that the […]
Micro pension contributions near N30m – PenCom
Leave a comment and share Chuks Udo Okonta Contributions from informal sector workers into the Micro Pension Plan (MPP) is now about N30 million, Inspenonline can report. The Head, Research & Strategy Management Department, National Pension Commission (PenCom) Dr. Farouk Aminu, said this in a telephone conversation with Inspenonline. Micro […]
Premium Pension Limited names Ibrahim Babayo board chairman
Babayo Leave a comment and share Chuks Udo Okonta The Board of Premium Pension Limited has announced a few changes at the Corporate level which include the appointment of Ibrahim Alhassan Babayo as its new Chairman effective April 26, 2020. A statement by the firm’s Head: Corporate Communications, Aliyu Mohammed […]
N29bn injected into pension assets in two months
Leave a comment and share Chuks Udo Okonta About N29 billion was injected into the pension fund assets in January and February 2020, Inspenonline can report. Data obtained from the National Pension Commission (PenCom) revealed that the pension fund assets stood at N10.22 trillion as at December 31, 2019 and […]
PFAs invest N7.77m micro pension assets in treasury bills, bank placement
Mrs. Aisha Dahir-Umar Leave a comment and share Chuks Udo Okonta Pension Fund Administrators (PFAs) have invested the N7.77 million contributed by micro pension subscribers as at February 29, 2020 in Federal Government’s treasury bills and bank placement, Inspenonline can report. The National Pension Commission (PenCom) stated this in its […]
Pension fund regulator to review fee balance between customers and fund managers
The Pension Fund Regulatory and Development Authority (PFRDA) has said that it will look into the fee structure for pension funds. Currently, pension fund managers in India earn one paise for every INR100 of funds managed under the National Pension System (NPS) which the PFRDFA oversees, reported Moneycontrol. Mr Supratim […]
