Lagos State Governor, Akinwunmi Ambode on Wednesday said his administration would initiate a process of an upward review of pension of retired Permanent Secretaries in the State, just as he expressed the readiness of the State Government to commence massive training of civil servants starting from 2017. Governor Ambode, who […]
Pension
S.Korea’s $476 bln pension fund eyes infrastructure, medical sectors
By Cynthia Kim and Joyce Lee South Korea’s National Pension Service (NPS), the world’s third-largest pension fund, sees infrastructure and the medical industry as good prospects for returns in a low interest rate environment, its chief investment officer said. The NPS, with 540.7 trillion won ($476.27 billion) in assets as […]
PFAs stake N3.99trn in Fed Govt securities
Mrs Chinelo Anohu-Amazu Leave a comment and share Chuks Udo Okonta Pension Fund Administrators (PFAs) have invested N3.99 trillion out of the N5.90 trillion pension assets in Federal Government securities as at August 2016, Inspen can report. The National Pension Commission (PenCom) said this in the summary of pension fund […]
TUC endorses use of mobile phone for pension transactions
Bobboi Kaigama, TUC President Mr Bobboi Bala-Kaigama, the President of Trade Union Congress (TUC), says the union has endorsed the use of mobile telephone for pension transactions. Bala-Kaigama disclosed this on Friday in Abuja in an interview with the News Agency of Nigeria (NAN). He said that the union endorsed […]
‘Nigeria’s GDP main contributors still outside CPS’
Akande Leave a comment and share Chuks Udo Okonta The move by the National Pension Commission (PenCom) to launch micro pension scheme would help move bulk of the nation’s Gross Domestic Product (GDP) contributors into the Contributory Pension Scheme (CPS), Inspen can report. According to the Executive Director, Business Development […]
Canadian pension fund buys into TVS Logistics
TVS Logistics Services has reached an agreement with CDPQ, a North American pension fund manager, whereby the investor will buy out two existing PE investors — Goldman Sachs and KKR — for nearly $155 million, or Rs 1,000 crore, for a minority stake. Goldman invested nearly Rs 125 crore in […]
Russian Pension Savings Total Almost 5 Trillion Rubles
In 2016 Q2, the total assets of non-governmental pension funds (NPFs) and pension savings of the Russian Pension Fund (PFR) increased by 3.8% to 4.989 trillion rubles (more than 6% of GDP). These data are given in the Survey of key indicators of non-governmental pension funds published on the Bank […]
PenOp seeks flexible guidelines for micro pension
Oranye Leave a comment and share Chuks Udo Okonta The Pension Fund Operators Association of Nigeria (PenOp) has called on the National Pension Commission (PenCom) to come out with flexible guidelines that would help drive the envisaged micro pension initiative. Its Executive Secretary, Susan Oranye, said this in an interview, […]
Stanbic IBTC Pension Managers wins ICT award, thanks customers
Leave a comment and share Chuks Udo Okonta Stanbic IBTC Pension Managers Limited, Nigeria’s largest pension fund administrator (PFA), says customers’ support was instrumental for winning the Africa Pension Awards’ ICT Innovation Operator award for 2016. The award, presented at the recently held World Pension Summit in Abuja, was in […]
PFAs are not in business primarily to finance projects – Longe
President, Pension Fund Operators Association of Nigeria (PenOp) Eguarekhide Longe and Executive Secretary, Susan Oranye at an event. Leave a comment and share Chuks Udo Okonta The President, Pension Fund Operators Association of Nigeria (PenOp), Longe Eguarekhide, has said Pension Fund Administrators (PFAs) main objective is not development financing but […]
