Mrs Chinelo Anohu-Amazu Director-General, National Pension Commission,(PenCom), Mrs Chinelo Anohu-Amazu has revealed that Nigeria’s pension funds now stand at about N5.4 trillion with approximately seven million contributors. Anohu-Amazu said this while speaking on the Role of Regulators in Deepening Capital Market at the 2016 Business Day Capital Market Conference in […]
Pension
PENSION TENSION IN THE FOSSIL FUEL INDUSTRY
BY TOBY A.A. HEAPS The global transition to clean energy has caught pension fund managers flat-footed, costing millions of pension holders hundreds of billions of dollars. Subscribe now – Free phone/tablet charger worth over $60 Coal, which accounts for over 40 percent of global greenhouse gas emissions, is being pushed […]
Ministry of Finance clarifies law on taxation of pensions
The Ministry of Finance has clarified its stance on the issue of taxation of pensions in the country. According to the ministry, an earlier explanation made by the Minister of Finance, Mr. Seth Terkper on the Income Tax Act, 2015 (Act 896) at a forum on Tuesday has been misconstrued. […]
PenCom boss tasks pension fund operators on product diversification
Mrs Chinelo Anohu-Amazu Mrs Chinelo Anohu-Amazu, Director-General, National Pension Commission,(PenCom) has charged operators of pension fund to derive ways of developing products that they invested in the country. Anohu-Amazu said this while speaking on the Role of Regulators in Deepening Capital Market at the 2016 Business Day Capital Market Conference […]
Lagos pays N1.002bn to 275 retirees
Mrs Onanuga Leave a comment and share Chuks Udo Okonta The Lagos State government has issued Retirement Benefit Bond Certificates to the tune of N1.002, 856 billion to another set of 275 retirees from the Mainstream, Local Government, SUBEB, TEPO and Parastatals of Government, under the Contributory Pension Scheme (CPS) […]
California pension fund CEO sentenced for bribery
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 […]
$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 […]
