Anirudh Laskar *Withdrawal has happened from all sectors, across government and private firms *Due to covid‘s effect on firms and the desperation to conserve cash, the growth in the overall NPS sector has remained flat in terms of the number of investors Against the backdrop of widespread job losses and […]
Pension
PenCom to review Pension Reform Act 2014
Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) has initiated the process of reviewing the Pension Reform Act (PRA) 2014 in order to address identified challenges and public clamour, Inspenonline can report. A statement by the Head, Corporate Communications Department, PenCom, Peter Aghahowa, stated that […]
PenCom secures stay of execution on 50% lump sum, appeals judgement
Acting Director-General, National Pension Commission (PenCom) Mrs. Aisha Dahir-Umar Leave a comment and share Chuks Udo Okonta with agency report The National Pension Commission (PenCom) has secured a stay of execution and appealed the judgement given by Justice Oyebiola Oyewumi of the National Industrial Court, Abuja Judicial Division which ordered […]
PFAs register 9,000 RSA holders in five months, as pension assets soar to N10.80tn
Leave a comment and share Chuks Udo Okonta Pension Fund Administrators (PFAs) registered 9,000 Retirement Saving Account (RSA) holders between January and May 2020, even as pension fund assets have soared to N10.80 trillion, Inspenonline can report. Data obtained from the National Pension Commission (PenCom) revealed that RSA registration in […]
Lagos State pays over N8.7bn to 2,309 retirees in six months
Leave a comment and share Chuks Udo Okonta The Director-General of Lagos State Pension Commission (LASPEC) Babalola Obilana, has disclosed that the Governor Babajide Sanwo-Olu led administration had disbursed more than N8.7 billion as Accrued Pension Rights to 2,309 retirees’ savings accounts between January and June, 2020. The Director-General, who […]
State governments and the pension rights of their employees
Takor Leave a comment and share OLD AGE AND PENSION There comes a time in a persons life circle, when he can no longer be fit for active economic activities, earning regular income through work. It is a period of rest, for those who have planned for it and a […]
Only FCT, three states have valid group life – PenCom
Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) has said only the Federal Capital Territory (FCT) and three states have valid group life. PenCom in a recent publication named the states as; Lagos, Kaduna and Edo, even as it implored defaulting states to acquire adequate […]
Lagos State unveils retirees’ web portal
Obilana Leave a comment and share Chuks Udo Okonta The Lagos State Government has launched a web portal specifically designed to allow prospective retirees and retired officers interact with the Lagos State Pension Commission on management of retirees’ entitlements regardless of their location anywhere in the world. A statement by […]
World’s largest pension fund loses $165bn in first quarter 2020
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 […]
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 […]
