A federal judge Tuesday sentenced the former head of the nation’s largest public pension fund to four and 1/2 years in prison in a case in which the pension fund CEO acknowledged accepting more than $200,000 in bribes and trying to steer investments to help an associate. Senior U.S. District […]
Pension
$45.5b pension funds set to play stock market in Aug
As much as 300 billion yuan ($45.5 billion) in pension funds are expected to march into the stock market in August, as China’s huge social security fund is closing up its hiring by June, Securities Daily reported on Wednesday. The National Council for Social Security Fund, the agency that oversees […]
Group Petitions EFCC, Seeks Investigation of “Looted” N200bn Pension Funds
The Civil Society Network Against Corruption, CSNAC, has demanded a comprehensive investigation into allegations of looted pension funds to the tune of N200billion by several certain individuals and organisations. In a petition addressed to the office of the chairman of the Economic and Financial Crimes Commission, EFCC, and supported with […]
FG to relax pension rules to aid investment
Mrs Adeosun Leave a comment and share Chuks Udo Okonta and agency report The Federal Government plans to relax the rules guiding the pension funds to pave way for investments, the Minister of Finance, Mrs Kemi Adeosun, has said. The Minister said this when she appeared before the House of […]
73,403 companies subscribe to contributory pension scheme – PenCom
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 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 […]
