Pension

Pension

FG’s 190,158 retirees gulp N884.58bn as accrued pension rights

Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) has said cumulatively, the sum of ₦884,577,261,000 had been released and remitted as accrued pension rights to 190,158 retirees of treasury funded Ministries, Departments and Agencies (MDAs) from inception of Contributory Pension Scheme (CPS) to December 31, […]

Pension

8 PFAs have recapitalised – PenOp

Leave a comment and share Chuks Udo Okonta The Chief Executive Officer, Pension Fund Operators Association of Nigeria (PenOp) Oguche Agudah, said eight out of the 22 Pension Fund Administrators (PFAs) have scaled the recapitalisation hurdle of raising their capital from N1 billion to N5 billion, placed by the National […]

Pension

PenCom decries irregular funding of 3.5 million RSAs

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

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 […]

Pension

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.