Pension

Pension

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 […]

Pension

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 […]

Pension

PenOp promotes mental health awareness in workplace

Leave a comment and share In commemoration of World Mental Health Day, Pension Fund operators Association of Nigeria (PenOp) held a mental health awareness webinar, hosting participants across the pension industry. Mental health concerns have risen in recent times in Nigeria, however, these conversations are not being had as much […]

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 […]