FirstBanC Financial Services Limited (FirstBanC) recorded strong growth in pension fund management with the size of the company’s managed pension funds growing significantly by more than 100 per cent in 2015. According to the 2015 Pension Fund Managers rankings published by the National Pensions Regulatory Authority (NPRA), FirstBanC placed second […]
Pension
Pensions insurer warns of premium shortfall
The agency which protects the private pension plans of 40 million Americans says it needs “substantial increases” in premiums. The Pension Benefit Guaranty Corporation receives no funding from taxpayers but instead finances its operations from insurance premiums and other income and assets. It reports that the fund which would cover […]
PenCom hunts for database of employers to boost compliance
DG PenCom, Mrs Chinelo Anohu-Amazu Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom), in a bid to ensure companies comply with the Pension Reform Act (PRA) 2014, has initiated moves to develop a database of eligible employers in the country. Inspen learnt that PenCom and […]
PenCom accuses MDAs of subverting rules on Certificates of Compliance
DG PenCom, Mrs Chinelo Anohu-Amazu Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) has accused Government’s Ministries, Departments and Agencies (MDAs) of acceptance spurious evidence of compliance from contractors and being reluctant in ensuring that companies bidding for works fulfilled their obligations relating to pensions […]
Inadequate instruments leave N1.059trn pension fund untapped – PenCom
DG PenCom, Mrs Chinelo Anohu-Amazu Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) said out of N1.06 trillion available for infrastructure financing, only N1.36 billion has been taken as at 31 December 2015, leaving N1.059 trillion untapped. PenCom stated this in a presentation made at […]
PenCom Accuses FGPL of Fraudulent Activities
By Damilola Oyedele Abuja — Following a petition to the House of Representatives, by one Hon. George Ozodinobi who claims to be Chairman of the First Guarantee Pensions Limited (FGPL), Lagos, the National Pension Commission (PenCom) has accused the petitioner of engaging in fraudulent activities, which have led to civil […]
Group seeks bailout for pensioners
Leave a comment and share Chuks Udo Okonta The Nigerian Union of Pensioners (NUP) has called on the Federal Government to issue bailout for the settlement of pensioners, as done to workers whose states could not pay salaries. The Lagos State Chairman of NUP, Joseph Dele, who said this in […]
Photo: Director-General of National Pension Commission,Mrs. Chinelo Anohu-Amazu after she received the “Excellence ,Visionary and Emphatic Leaders Award” confered on her by TUC
The National President of Trade Union Congress (TUC) Comrade Bobboi Bala Kaigama(Left) congratulates the Director-General of National Pension Commission,Mrs. Chinelo Anohu-Amazu after she received the “Excellence ,Visionary and Emphatic Leaders Award” confered on her by TUC at the weekend in Abuja.
UK pension fund forum asks members to oppose WPP pay report
The Local Authority Pension Fund Forum (LAPFF), an association of 70 UK-based public sector pension funds, asked its members to oppose WPP Plc’s remuneration report at the advertising firm’s annual meeting, citing “excessive” payments offered to its chief executive. PIRC, an advisory firm and LAPFF’s research partner, last week asked […]
Why FG securities is toast for pension funds – PenCom DG
Anohu-Amazu Leave a comment and share Chuks Udo Okonta The Director-General, National Pension Commission (PenCom), Mrs Chinelo Anohu-Amazu, has identified inadequate products as a reason for the deployment of over N3.49 trillion amounting to 66.41 per cent, of the pension funds to Federal Government securities. Anohu-Amazu, who disclosed this in […]
