PenCom Recovers N553.03m From Defaulting Employers       The National Pension Commission has said it recovered N553.03m from defaulting employers who deducted their workers monthly emoluments but failed to remit to their Retirement Savings Accounts with their respective pension fund administrators. PenCom disclosed this in its monthly report...

Benue State Govt Remits Over N600m To Pencom       The Benue State Government has remitted over N600 million as pension fund to the National Pension Commission (PenCom). Governor Samuel Ortom who stated this yesterday said the government could be allowed to borrow from the pension fund to...

PenCom Moves To Curb Unfunded Retirement Savings Accounts       The National Pension Commission has ordered Pension Fund Administrators to ensure that all remitted contributions are credited into the Retirement Savings Accounts of the workers. This is to reduce the number of unfunded RSAs of workers under the...

PenCom Reviews Payments As 65,419 Deceased Relatives Claim N215.27bn         To clamp down on fraudulent death benefits and claims that do not meet required internal control measures, the National Pension Commission has stopped death payments to legal beneficiaries by the Pension Fund Administrators without approval. The National...

Pension Industry Fund Assets Now N12.29trn         The pension industry fund assets rose to N12.29 trillion by November 30, 2020. This represented a 1.94 per cent increase when compared with N12.053 trillion recorded as at October 31, 2020. Latest report by the National Pension Commission (Pencom) showed...

Pension Scheme: 118,044 Retirees Withdraw N29.26bn         A total of 118,044 retirees withdrew N29.26bn from their Retirement Savings Accounts and left the Contributory Pension Scheme because they had low balances in their accounts which could not be utilised as monthly stipends for them. Many of the affected...