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 […]
Pension
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 […]
Govt Not Utilising N1 Trillion Pension Fund for Infrastructure – PenCom
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 […]
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. […]
