Kindly leave a comment and share Chuks Udo Okonta Poor remuneration has debarred 159,994 Nigerian workers, whose Retirement Savings Account (RSA) balances as the time of retirement could not provide a monthly pension of at least one-third of the prevailing minimum wage of N30,000 from earning retirement benefits. The National […]
Pension
PenOp elects Umar Mairami as President
Kindly leave a comment and share Chuks Udo Okonta The Managing Director/Chief Executive Officer of Premium Pension Limited Umar Mairami, has been elected as the new President of Pension Fund Operators Association of Nigeria (PenOp). He takes over from Olumide Oyetan, whose tenure as President ended on March 31, 2024. […]
IWD: Pension industry projects women as solution to Nigeria’s economic challenge
Kindly leave a comment and share The Pension Fund Operators Association of Nigeria (PenOp), in the spirit of the 2024 International Women’s Day celebrations with the theme Inspire Inclusion, organised a hybrid event to commemorate the day. International Women’s Day (IWD) is a global celebration held annually on March 8. […]
N19.21tn of pension fund assets invested by PFOs – PenCom
Kindly leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) has said N19.21 trillion out of the N19.53 trillion as January 31, 2024 has been invested by Pension Fund Operators (PFOs). PenCom in its Unaudited Report on Pension Funds Industry Portfolio for the Period Ended January […]
Stanbic IBTC Pension Managers renovates Yaba Psychiatric Hospital Ward with over N100m
Kindly leave a comment and share Chuks Udo Okonta Stanbic IBTC Pension Managers, a subsidiary of Stanbic IBTC Holdings and a leading pension fund administrator in Nigeria, in a significant display of corporate social responsibility (CSR) has renovated the Yaba Psychiatric Hospital Ward MS/F3 in Lagos, with over N100 million. […]
Foreign currency denominated investments from CPFAs, Existing Schemes drive pension assets gain to N1.18tn
Kindly leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) has said the N1.18 trillion surge in pension fund assets gain in January 2024 was driven by foreign currency denominated investments made by Closed Pension Fund Administrators (CPFAs) and Existing Schemes. Findings by Inspenonline, revealed that […]
Pension fund assets soar to N19.53tn, gain N1.18tn in January 2024
Kindly leave a comment and share Chuks Udo Okonta The pension fund assets stood at N19.53 trillion as at January 31, 2024, as against N18.36 trillion in December 31, 2023, gaining N1.17 trillion. The National Pension Commission (PenCom) stated this today in its Unaudited Report on Pension Funds Industry Portfolio […]
PenCom debunks giving N10tn loan to FG
Kindly leave a comment and share Chuks Udo Okonta The Director-General of National Pension Commission (PenCom), Mrs. Aisha Dahir-Umar, has described as “totally misleading” widespread reports that the Commission gave a N10 trillion loan to the Federal Government. She also responded to claims that PenCom was owing Federal Government retirees […]
PFAs to pay N500,000 penalty for not enlightening retirees on features of PW, RLA
Kindly leave a comment and share Chuks Udo Okonta A Pension Fund Administrator (PFA) that fails; neglects or refuses to enlighten a retiree on the features of Programmed Withdrawal (PW) and Retirement Life Annuity (RLA) to enable the retiree make an informed decision shall be liable for an administrative sanction […]
Pension lump sum is not 25% of RSA balance
Kindly leave a comment and share Chuks Udo Okonta The public belief that Contributory Pension Scheme (CPS) lump sum paid to retirees is 25 per cent of their Retirement Savings Account (RSA) balance is not true. CPS lump sum is not determined by percentage, but achieved through a unique device […]
