Insurers Make N10.1bn From Life Annuity In Q4, 2020       Insurance companies providing Retiree Life Annuity (RLA) to retirees under the Contributory Pension Scheme (CPS) received N10.1 billion premium, in the fourth quarter of 2020. Life Annuity is a series of monthly or quarterly payments paid to...

States, Others Not Funding 3.5m Workers’ Pension – PenCom       The National Pension Commission has faulted states and some private companies for not funding 3.5 million pension accounts opened by their workers as of the end of 2020. The implication of this default is that the workers...

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...