•A need to overcome an insensitive and self-serving move on the part of lawmakers The civil society has quickly reacted to efforts by the 8th NASS to amend the constitution to favour principal legislative officers with outlandish pension earnings after ceasing to be lawmakers. Leaders of various civil society groups […]
Pension
Woman donates pension to support Buhari’s anti-corruption war
A pensioner, Mrs. Rose Arabameh Julius, has donated her entire monthly pension of Ten Thousand Naira to support the Buhari administration’s war against corruption. Mrs. Julius, who retired as a cleaner from the Lagos University Teaching Hospital, also promised to contribute N1,000 every month out of her pension towards the […]
PFAs invest 70% of pension fund in FGN bonds, treasury bills
Longe By ZAKA KHALIQ(NEWSWATCH TIMES NEWSPAPER) At least 70 per cent of the N5.3 trillion pension fund has been invested in Federal Government bonds and Treasury Bills, Newswatch Times learnt. To this end, the Federal Government is currently using the fund to finance recurrent expenditure. While criticising some government officials, […]
Accrued pension rights to rise as FG may approve N50bn for 2016 retirees
Mrs Anohu-Amazu By ZAKA KHALIQ(NEWSWATCH TIMES NEWSPAPER) There are strong indications that the current Outstanding Accrued Rights may increase, when the 2016 budget is passed as the Federal Government only made provision for N50 billion as against N91 billion needed to pay the federal government workers who will retire in […]
FBNInsurance sensitizes retirees on annuity
From left: Alhaji S. A. Olonade, Mrs. Mobonike Ogundipe, Adekunle Adeola, Head of Actuarial Services/ERM/Annuity and Valentine Ojumah, MD/CEO, FBNInsurance Limited at the FBNINSURANCE annuity seminar held in Lagos. Leave a comment and share Chuks Udo Okonta In keeping with her brand promise of helping her clientele “create and grow […]
Lagos state pays N904m to 243 retirees
Leave a comment and share Chuks Udo Okonta The Lagos State Government in the month of February, 2016 paid 243 retirees from the Mainstream Civil Service, Local Governments, State Universal Basic Education, Teachers Establishment and Pension Office and other Parastatals Pension entitlements worth N904 million. A statement by Mrs Ajoke […]
Why PFAs shun investments in foreign securities
Mrs Anohu-Amazu and other PenCom’s executives The Contributory Pension Scheme (CPS) has yielded N5.3trillion, but Pension Fund Administrators (PFAs) are shying away from investing contributors’ and retirees’ funds in foreign capital and money market instruments. Instead, pension funds in Retirement Saving Accounts (RSA) of active contributors and retirees are being […]
Pension fund managers eye N20trillion pension assets
Longe By ZAKA KHALIQ (NEWSWATCH TIMES NEWSPAPER) Pension Fund Administrators(PFAs) across the country said they are expecting the pension assets to have risen to N20 trillion in the next eight years. Speaking on behalf of the pension fund managers at a media briefing in Lagos, the Chairman, Pension Funds Operators […]
PenOp tackles unhealthy competition with code of ethics
Kari Leave a comment and share Chuks Udo Okonta The President, Pension Fund Operators Association of Nigeria (PenOp), Eguarekhide Longe, said the association would soon instil code of ethics to stem unhealthy competition amongst members. He disclosed this in an interview, stating that the association wants to wipe out unhealthy […]
CPS: Before More Critically Ill, Permanently Disabled Retirees are Sent to Early Grave
Denying a man in coma, one suffering from stroke, a permanently disabled person, a one that is terminally or critically ill access money, which he could use to save his life just because the law said so is the height of man’s inhumanity to man. This underscores the urgent need […]
