PenCom approves continuation of contributor data recapture exercise

May 12, 2022 David Agba 0

The National Pension Commission (PenCom) has invited all Retirement Savings Account (RSA) holders to visit any branch of their Pension Fund Administrators (PFAs) to participate in the ongoing Data Recapture Exercise (DRE). The exercise is for both active contributors and retirees whose data have not been recaptured. The DRE is in compliance with the directive of the federal government that Read More

PFAs comply with N5bn minimum regulatory capital requirement

May 2, 2022 David Agba 0

The National Pension Commission (PenCom) has inform all stakeholders and the general public that as at 27 April 2022, all Pension Fund Administrators (PFAs) have complied with the Commission’s directive for the increase of the Minimum Regulatory Capital (Shareholders’ Fund) from N1 billion to N5 billion. The Commission had approved the recapitalisation exercise for the PFAs with a 12-month transition Read More

PENCOM faults bill seeking payment of 75% lump sum to retirees

April 12, 2022 Segun Odunewu, Lagos 0

The National Pension Commission (PenCom) says the payment of “at least 75 per cent” lump sum to retiring workers under the Contributory Pension Scheme (CPS) is not enough. The Pension Reform Amendment Bill before the national assembly suggested the new arrangement. Aisha Dahir-Umar, director-general of PENCOM, said this in a presentation obtained by NAN on Monday. Dahir-Umar gave her presentation Read More

Micro Pension Plan contribution hits N161m in Q2 2021 – PenCom

February 3, 2022 Blueprint 0

The National Pension Commission (PenCom) has announced that the total contribution by participants under the Micro Pension Plan (MPP) stood at N161.27 million as at June 30, 2021. This is contained in a bulletin published by the commission on its social handles and obtained by the News Agency of Nigeria (NAN) in Lagos on Tuesday. PenCom said that a total Read More

PenCom wants Pension Reform Act 2014 reviewed

January 18, 2022 David Agba 0

The National Assembly has been urged to organise a public hearing in order to provide an avenue for stakeholders to formally make input into the proposed amendments. This is sequel to the recent retreat organized by the National Pension Commission (PenCom) on the review of the (PRA 2014) in Abuja. The retreat aimed to identify salient issues to be reviewed Read More

PenCom automates pre-retirement verification, enrolment exercise

January 17, 2022 Blueprint 0

The National Pension Commission (PenCom) has announced it has automated the Pre-Retirement Verification Enrolment Exercise. This was disclosed by PenCom in an online statement published on Twitter on Friday. The statement said that the PenCom DG, Aisha Dahir-Umar has prioritized I.T as a key enabler of service delivery in the pension sector. The annual enrolment exercises by the Commission are Read More

PenCom extends 2021 online verification, enrollment exercise

October 29, 2021 Blueprint 0

The National Pension Commission (PenCom) has extended the online verification and enrollment exercise for 2021 retirees, and prospective retirees of the Federal Government Treasury Funded Ministries, Departments and Agencies (MDAs). The Head, Corporate Communications of PenCom, Mr. Peter Aghahowa, made the disclosure in a statement Friday in Abuja. He said PenCom had developed an online application that automated the Annual Read More

Trustfund pension tasks employers on pension scheme

October 20, 2021 Blueprint 0

Trustfund Pensions has urged employers of labour to ensure compliance with the National Pension Commission directives on Contributory Pension Scheme (CPS) for their employees. The fund also told employers to frequently interact with their employees’ Pension Fund Administrators (PFAs) to be up to date on happenings within the industry. Speaking during an interactive meeting with employers in Abuja, Trustfund Pensions Read More

Benue spends N700m on pensioners monthly – Ortom

October 11, 2021 John Shiaondo 0

Governor Samuel Ortom of Benue state weekend stated that the state expends N700 million monthly on payment of pensions. He also said his administration inherited over N70 billion arrears of pensions and gratuities of retirees. Speaking in an interview with journalists in Makurdi, he said relentless efforts had reduced the backlog of pensions to less than N35b.He stated further that Read More

Pension: Why retirees are canvassing review of lump sum

August 10, 2021 Blueprint 0

It is no secret that many Nigerian workers, particularly those in the public service, are unable draw their pensions long after retirement from active service. Many are known to have fallen ill and some even died while waiting for their pensions. But with Pension Reform Act of 2014, the waiting time and casualties have reduced; now the narrative has changed Read More

Pensioners cry out over PENCOM’s failure to pay arrears

July 12, 2021 Emeka Nze 0

The Contributory Pension Union of Nigeria (CPUN) has urged the Secretary to the Government of the Federation (SGF), the Federal Ministry of Finance, Budget and National Planning as well as the Central Bank of Nigeria (CBN), to direct PENCOM to begin to pay one per cent check off dues djeductions from pensioners. It also wants the above mentioned government establishments Read More