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...

Fed Govt Releases N11.82bn For MDA Retirees         The Federal Government has released N11.82bn for payment of accrued rights of retirees of treasury funded Ministries, Departments and Agencies under the Contributory Pension Scheme. The Head, Corporate Communications Department, National Pension Commission, Peter Aghahowa, disclosed this in a...

Operators Invest N217.58bn Pension Funds In Real Estate         Pension Fund Administrators have invested N217.58bn in real estate as of the end of the end of September 2020, the National Pension Commission has said. PenCom said this in its third quarter 2020 report. It also disclosed that N54.57bn...

Workers Withdrew N2.18bn Pension Savings In Q3 – PenCom         About 1,286 workers under the Contributory Pension Scheme withdrew N2.18bn from the voluntary contributions in their Retirement Savings Accounts with their Pension Fund Administrators in the third quarter. The National Pension Commission disclosed this in its 2020...

PenCom To Adopt Electronic Pension Verification       The National Pension Commission (PenCom) said it will adopt an automated electronic process to conduct the annual verification and enrolment exercise. In a statement yesterday, PenCom said due to the COVID-19, it could not conduct the 2020 exercise physically for...

Unremitted Pension: 13 Employers Pay N56.5bn Penalties         Thirteen defaulting employers whose pension liabilities to their employees have been established have been made to pay N56.5 billion penalties by the National Pension Commission (PenCom), according to a report. According to the commission, the money was paid following...