Pension Commission Urges Workers To Update RSA   The National Pension Commission (PenCom) has urged contributors into the Contributory Pension Scheme(CPS) to go to their Pension Fund Administrators (PFAs) and update their Retirement Savings Account (RSA) details. The commission also warned that RSA holders who ignore the...

PenCom To Penalise PFAs For Wrongly Paid Benefits   The National Pension Commission has ordered the Pension Fund Administrators to investigate all reported cases of dead Retirement Savings Account holders before making any payment to the beneficiaries. The regulator said any wrong payment of death entitlement would...

PenCom Illegally Spent N12.3bn IGR , National Assembly Alleges   The National Assembly has criticised the alleged unapproved utilisation of over N12.283bn of the Internally Generated Revenue of the National Pension Commission. The joint Senate and House of Representatives Committees on Pensions expressed concerns when PenCom appeared...

PFAs Invests N1.03trn Pension Funds In Banks   The Pension Funds Administrators increased the pension funds invested in the banking sector to N1.03tn as of the end of July. Figures obtained from the National Pension Commission revealed that this amounted to 11.03 per cent of the total...

PFAs Record N1.69trn profit From Pension Fund Investments     Return on investment accounts for more than 18 per cent of the nation’s total pension assets. The Pension Funds Administrators have earned a profit of N1.69trn since investing workers’ pension contributions from inception of the scheme till the...

35 States Fail To Provide Workers’ Insurance   Four more states have stopped providing group life insurance policy for their workers, thus joining 31 others that had failed to adopt the policy, investigation has revealed. Latest figures obtained from the National Pension Commission revealed that only workers...