PenCom Okays N19.85bn For 6,006 Retirees In Q2       The National Pension Commission has said it approved N19.85bn as lump sum payment for 6,006 retirees in the second quarter of 2020. PenCOM disclosed this in its second-quarter report for 2020 financial period. According to the commission, the pensioners...

32 States Not Remitting Workers’ Contributory Pensions – PenCom     While five states are regularly funding the accrued rights and Retirement Savings Accounts of their workers under the Contributory Pension Scheme, all the states have backlog of arrears that make retirees to wait for a few...

States Refuse To Remit Pensions For Workers – PenCom         Most states governments are not remitting pension contributions into their workers’ Retirement Savings Accounts with their respective Pension Fund Administrators. The National Pension Commission disclosed this in its 2019 third-quarter report, which was recently released. It also observed...

PenCom To Sanction PFAs For Refusing Retirees Annuity     The National Pension Commission has said it will sanction Pension Fund Administrators that refuse to approve annuity for retirees who are collecting pensions to them under the Programmed Withdrawal. It stated this in a circular entitled, ‘Procedure for...

PenCom Reviews Annuity Guidelines, Addresses PFAs, Insurers’ De-marketing       The National Pension Commission and the National Insurance Commission, on Tuesday, signed off the revised regulation on retiree life annuity, and the guidelines on Group Life Insurance Policy for employees and Contributory Pension Scheme retiree pack. The ceremony,...

Pension Fund Now N11.09trn     Pension Fund Administrators (PFAs) have recorded N666 billion increase on pension fund assets in six months. The total pension fund hits a record high of N11.09 trillion as at June 2020 from N10.8 trillion recorded in May. Besides, the number of Retirement Savings...