The Federal Government has released N10.3 billion for payment of pension contributions to pensioners, who retired in November and December 2015, The Nation has gathered. The government also released N2.9 billion to be paid to other batches of retirees, bringing the amount released to N13.2 billion. Consequently, the Central Bank […]
Pension
Life insurers comply, transfer over N145.05bn annuity fund to PFCs
Leave a comment and share Chuks Udo Okonta Many Life insurance companies have transferred their annuity assets to Pension Fund Custodians (PFCs) in line with directives issued by the National Pension Commission (PenCom) just two days to the deadline, Inspen can report. Our findings revealed that while many have completed […]
Lagos State pays N597m to 148 retirees
From left: Commissioner Establishments, Training and Pensions Lagos State, Dr. Benson Akintola and Director-General Lagos State Pension Commission, Folashade Onanuga at an event in Lagos. Leave a comment and share Chuks Udo Okonta The Lagos state Governor, Akinwunmi Ambode, has continued the payment of retirees’ entitlements by paying another set […]
Scandal-hit pension fund loses managers ahead of relocation
Health and Welfare Minister Chung Chin-youb speaks during a meeting of the NPS fund management committee at a hotel in Seoul, Wednesday. (Yonhap) South Korea’s pension behemoth is suffering an exodus of fund managers ahead of its planned relocation from Seoul to Jeonju, North Jeolla Province, in late February, according […]
Assemblies of God Denies Knowledge of Missing N2.7bn Ministers’ Pension Funds
Christopher Isiguzo in Enugu The Assemblies of God Church, Nigeria in Enugu has dismissed as false and mischievous media reports linking its leaders to the alleged disappearance of N2.7 billion pension funds belonging to retired pastors of the church. The Church, which is presently struggling with leadership crisis, also denied […]
PRA: Senator proposes bill to provide 75% lump sum for retirees
Leave a comment and share Chuks Udo Okonta A bill seeking the provision of 75 per cent as pension lump sum for retirees has been proposed before the Senate, Inspen can report. The bill which was sponsored by Senator Aliyu Magatakada Wamako, seeks amendment of some sections of the Pension […]
Why FG is yet to pay accrued pension
By Racheal Ishaya The Federal Government is crrently unable to meet its obligation to its retirees because it cannot cash back the Federal Government Retirement Benefits Bonds currently sitting at the Central Bank of Nigeria. Findings by our correspondent show that the Federal Government is currently owing its former workers […]
PTAD Drops 15,600 Pensioners Off Its Payroll
By Abdullateef Salau The Executive Secretary of Pension Transitional Arrangement Directorate (PTAD), Mrs Sharon Ikeazor, on Tuesday says the directorate has suspended 15, 600 pensioners from its payroll due to lack of Bank Verification Number (BVN). She also said the agency was set to commence verification of Nigerian pensioners in […]
National survey reveals stakeholders’ dissatisfaction with Contributory Pension Scheme
A national survey on the Contributory Pension Scheme established over a decade ago by the Federal Government has revealed the dissatisfaction of some stakeholders with the implementation of the scheme. In the survey conducted by the News Agency of Nigeria (NAN) across states of the federation, some respondents however, commended […]
New Nigerian company ‘to boost pension fund investments in infrastructure’
A new company that will enable pension funds to invest in Nigerian infrastructure bonds is set to be launched in a few weeks’ time, the head of the country’s sovereign wealth fund has said.10 Jan 2017 Energy and infrastructure finance Projects Infrastructure Financial Services Africa Western Africa Uche Orji, chief […]
