Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) is pushing for the publications of evidences of compliance with the Pension Reform Act (PRA) 2014 in companies’ financial statements, Inspen can report. The Commission said it is working with the Financial Reporting Council (formerly Nigeria Accounting […]
Pension
PenCom forms alliances to enhance pension compliance
Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) in recent times has been exploring measures to deepen the pension industry, especially by collaborating with other organisations to ensure pension laws are obeyed and enforced. Inspen gathered that the commission had collaborated with relevant agencies and […]
29,458 firms exit contributory pension scheme – PenCom
Director-General PenCom, Mrs Chinelo Anohu-Amazu Leave a comment and share Chuks Udo Okonta The National Pension Commission (PenCom) has said 29,485 companies with less than three employees which were registered with Pension Fund Administrators (PFAs) under the Contributory Pension Scheme (CPS) had either been liquidated or ceased to exist. PenCom […]
Pension Fund Regulator Scouting For Tax Consultant For 2016-17
New Delhi: Pension fund regulator PFRDA is scouting for a tax consultant for the fiscal 2016-17 to advise it on all the taxation related issues. The consultant would be advising PFRDA on issues related to “tax deducted at source, service tax, GST (when enacted), any other tax related issues, including […]
Pensioners are being denied their savings: Can the law be changed to set things right?
By Ra’eesa Patherfiled A case in the Johannesburg high court could pave the way for R28.7-billion to be freed up for pensioners left in limbo. A pension fund with millions in unclaimed benefits has challenged the high court in Johannesburg: change the law so that the money can be distributed […]
Tanzania Taps Informal Sector to Boost Nation’s Pensions
Targets growth of 15% from last year’s 2.27 billion shillings Nation may allow funds to invest around East African bloc Tanzania’s pension regulator is looking to the nation’s vast informal sector for growth by introducing flexible products that can fit the irregular nature of income for people such as farmers. […]
FirstBanC increases market share in the Pensions Industry
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 […]
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 […]
