By Chris Agabi The National Pension Commission (PenCom) has disclosed that despite the availability of about N1.06 trillion for infrastructure financing, only N1.36 billion has been taken as at December 31, 2015, leaving N1.059trillion untapped. This was disclosed in a memorandum submitted by the National Pension Commission to the House […]
Pension
Canadian pension fund returns decline in first quarter -RBC
Canadian pension funds posted lower first-quarter returns on their investments due to global market volatility, according to RBC Investor & Treasury Services data released on Thursday. Growth has been negative in three out of the last four quarters, the company said. Returns fell 0.03 percent in the first quarter, following […]
MEMORANDUM SUBMITTED BY THE NATIONAL PENSION COMMISSION TO THE HOUSE COMMITTEE ON PENSIONS FOR THE PUBLIC HEARING ON THE LEVEL OF COMPLIANCE ON THE CONTRIBUTORY PENSION SCHEME
1-0 Introduction 1-1 The National Pension Commission (“the Commission” or “PenCom”) expresses its profound appreciation to the House Committee on Pensions for the opportunity to provide insights, clarifications and information regarding the level of compliance with the Contributory Pension Scheme (CPS) established following the pension reform of 2004. Indeed the […]
Lagos state pays N1.08bn pension accrued rights
Leave a comment and share Chuks Udo Okonta The Lagos State government has issued Retirement Benefit Bond Certificates for a total sum of N1, 080 billion to 260 retirees from the Mainstream; Local Government; SUBEB; TEPO and Parastatals under the Contributory Pension Scheme (CPS) for the Month of April, 2016. […]
PenCom, Christian group to brainstorm on investment, safety of pension funds
Leave a comment and share Chuks Udo Okonta The Director-General National Pension Commission (PenCom), Chinelo Anohu-Amazu, as part of the commission’s renewed efforts at ensuring pensions funds are channeled towards economic development through viable and safe investments, will be addressing a large diverse audience at the National Lecture Series of […]
Pension fund assets hit N5.39trn in March
Leave a comment and share Chuks Udo Okonta Total pension fund assets had grown to N5.39 trillion as at March, 2016, the Director-General National Pension Commission (PenCom), Mrs Chinelo Anohu-Amazu, has said. Anohu-Amazu, who was represented by PenCom’s Head, Research and Strategy Management, Dr. Farouk Umar, said this at a […]
PenOp decries lack of infrastructure bond in Nigeria
From left: Compliance Officer, Stanbic IBTC Pension, Mrs. Idu Okwuosa; Managing Director, Zenith Pension Fund Custodian (PFC), Mrs. Nkem Oni-Egbuna; Managing Director, AIICO Pension and Chairman, Pension Fund Operators Association of Nigeria (PenOp) Eguarekhide Longe; Executive Secretary, PenOp, Susan Oranye; Managing Director, AXA Mansard Pension, Dapo Akinsanya and Managing Director, […]
Atlantia Said to Draw Pension Funds to $4.6 Billion Highway Deal
Infrastructure company may sell up to 30% of Autostrade unit Atlantia plans to use proceeds to expand outside Italy Atlantia SpA, the Italian infrastructure company controlled by the Benetton family, could raise more than 4 billion euros ($4.6 billion) from the sale of a minority stake in its Autostrade per […]
Paramilitary threatens Nigeria’s pension system
Nigeria s paramilitary agencies have commenced moves to take over the management of their own pensions, away from the existing Pension Fund Administrators (PFAs) who had managed the scheme since the Pension Reform Act 2004 came into being over 10-years ago, BusinessDay findings reveal. A source close to the industry […]
Nigerian Pension Funds record modest gains in Q1’16
Uche Ndimele The depreciated Naira and falling oil prices could not stop pension funds in Nigeria from posting positive performances in Q1, howbeit modest. Analysis by Quantitative Financial Analytics shows that Nigerian pension fund managers posted modest return of between 0.29% and 2.95% for RSA funds and between 1.58% and […]
