Underfunded government pensions to the tune of $1.3 trillion, with a gap that just can’t be filled, is the ticking time bomb facing the US economy, which faces dramatic cuts in public services and potentially riots reminiscent of Athens six years ago. Danielle DiMartino Booth is the tough talking former […]
Pension
Lagos pays N941m to 228 in November
Mrs Onanuga Leave a comment and share Chuks Udo Okonta The Lagos State Pension Commission said it has paid another batch of 228 retirees from the Mainstream Civil Service, Local Governments, and State Universal Basic Education Board (SUBEB), Teachers Establishment and Pensions Office (TEPO) and other parastatals of Government the […]
Legal technicalities must not hamper pension scheme—Acting CJN
Onnoghen The Acting Chief Justice of Nigeria, Justice Walter Onnoghen, says legal technicalities and attitudes of employers and other stakeholders must not hamper the objectives of the pension scheme in Nigeria. Onnoghen, who spoke at a sensitisation workshop on the contributory pension scheme, identified the other stakeholders as Pension Fund […]
Pension funding deficits ‘nearly a third of UK GDP’
The pensions black hole is £110 billion higher than it was at the start of the year Britain’s mammoth funding gap for gold-plated company pensions stands at nearly a third of the country’s economic output despite a £50 billion boost in November. A report by PricewaterhouseCoopers shows the deficit for […]
World’s Biggest Pension Fund Finds New Best Friend in Trump
By Anna Kitanaka President-elect’s shock victory provides tailwind for GPIF Stocks surge and the yen tumbles, benefiting giant investor One of the world’s most conservative investors has found an unlikely new ally in one of its most flamboyant politicians: Donald Trump. The unconventional president-elect’s victory is helping Japan’s giant pension […]
World’s biggest pension fund gains $21b as stocks rally
Japan’s Government Pension Investment Fund returned 1.8% in the three months ended September 30 A coffee shop run by an elderly woman in Tokyo. The Government Pension Investment Fund(GPIF) returned 2.4 trillion yen in the three months ended September 30 as stocks rebounded. TOKYO: The world’s biggest pension fund posted […]
PenCom scolds PFAs over redeployment of HODs
Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) has charged Pension Fund Administrators (PFAs) to obtain approval before redeploying Head of Departments from one department to another. The Commission in a circular entitled: Recruitment of Top Management/Redeployment of Head of Department, issued on November 2, […]
PTAD collaborating with EFCC to fight pension fraud — Ikeazor
Ikeazor The Pension Transitional Arrangement Directorate is collaborating with the Economic and Financial Crimes Commission and other government agencies to fight fraud in pension administration. The Executive Secretary of PTAD, Sheron Ikeazor, made the statement in Abuja on Wednesday at the News Agency of Nigeria Forum. Ikeazor said: “I call […]
Regulators meeting on annuity fails to hold
Leave a comment and share Chuks Udo Okonta The planned meeting between the National Insurance Commission (NAICOM) and National Pension Commission (PenCom) earlier scheduled for today, has been postponed, Inspen has learnt. It was gathered that the insurance regulators, NAICOM, requested for postponement of the meeting, which new date is […]
FG considers pension review for Armed Forces
FIdelis Soriwei The Minister of Defence, Mansur Dan-Ali, has said the Federal Government is considering pension review for military pensioners in the country. He said that the review became necessary in view of the constitutional provision which stipulates that pension should be reviewed every five years. The minister made the […]
