Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) has said 73,403 companies have so far embraced the Contributory Pension Scheme (CPS), and that 43,918 of them have largely complied with the provisions of the Pension Reform Act (PRA). PenCom noted that about seven million employees […]
Pension
Pension advice for the self-employed – how to plan for retirement
A record number of people are becoming self-employed by going freelance or starting their own business. New figures from the Office for National Statistics show the number has increased by 182,000 to just under 4.7 million. However, there are growing fears that this new generation of those going it alone […]
Things to do to protect your retirement income
Uchenna Ndimele, Quantitative Financial Analytics Comfortable retirement is the desire of many and almost all retirement services company websites have calculators that will give you an idea of how much you are likely to have at retirement based on certain actuarial assumptions. More often than not, things do not end […]
Whistle blowing: PenCom chases errant employers with EFCC
Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) has approached the Economic and Financial Crimes Commission (EFCC) to prosecute employers that victimised employees for blowing whistle on non-remittances of their pension contributions. PenCom in a submission made to the National Assembly, said it has been […]
FG, states yet to access N1.06trn pension fund to fix infrastructure
By ZAKA KHALIQ(National Mirror Newspaper) Despite the clamour for fund by the Federal and some state governments to fix infrastructure deficits in the country, the Federal Government and states are yet to commence means of utilising N1.06 trillion set aside for infrastructure finance in the N5.3 trillion pension funds to […]
PenCom unveils challenges clogging implementation of PRA 2014
Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) has identified poor wages to accommodate reasonable pension deductions; general poor compliance culture; weak economy which saw the pension contributions as a huge additional cost of doing business in Nigeria; and more as challenges clogging the implementation […]
LASPEC moves to safeguard retirees’ documents
Mrs Onanuga Leave a comment and share Chuks Udo Okonta The Lagos State Pension Commission (LASPEC) has commenced the archiving of approval documents of retirees and bond certificates to forestall damages, its Director-General Mrs Folasade Onanuga, has said. Mrs Onanuga, who disclosed this yesterday in Lagos, said the initiative is […]
Photos: Faces at the LASPEC 10th retirement benefit documentation seminar
Mrs Folasade Onanuga (4th left) with top officers of some agencies in Lagos State at the event. Excited would be retirees
Lagos spends over N112.08bn on employees’ pension rights
From left: Director-General, Lagos State Pension Commission, Mrs Folasade Onanuga and Director-General, Public Staff Development Centre, Mrs Olubunmi Fabanwo at the event. Leave a comment and share Chuks Udo Okonta Lagos State Government’s funding of employees’ pension rights under the Contributory Pension Scheme (CPS) is approximately N112, 080 billion, the […]
Treasury Department Rejects Plan to Cut Pension Benefits for Teamsters
By MARY WILLIAMS WALSHMAY The Treasury Department on Friday rejected a plan to cut benefits for 270,000 union drivers and retirees who belong to a deeply troubled Teamster pension fund, a decision that could thwart the intentions of other large, financially struggling pension funds. The move, welcomed by workers and […]
