Pensioners’ Assets in Domestic, Foreign Stocks Rise by 59.6 % to N1.5trn   The Net Asset Value, NAV, of Nigeria’s pension money in the domestic and foreign stock market rose to N1.54 trillion as at the end September 2023, 9M’23, indicating a sharp increase of about...

PFAs Invested N130bn in Infrastructure – PenCom   Pension Fund Administrators (PFAs) invested N130.18 billion funds under the Contributory Pension Scheme in infrastructure as of the end of September 2023. Figures obtained from the National Pension Commission (PenCom) on ‘Unaudited report on pension funds industry portfolio for...

222,141 Workers Dump PFAs, Move N908bn – PenCom   No fewer than 222,141 workers have changed their Pension Fund Administrators and moved N908.363bn from their Retirement Savings Accounts since the National Pension Commission opened the window of transfer. PenCom disclosed this in its transfers report on ‘Quarterly...

PenCom Says Workers Accessed N986.88m Pension Savings For Mortgage   No fewer than 90 workers have accessed N986.88m out of their Retirement Savings Accounts with their Pension Fund Administrators to enable them acquire residential mortgages as of the end of June 2023. The National Pension Commission (...

We Recover N25.13bn Unremitted Pension Contributions - PenCom   The National Pension Commission (PenCom) has recovered N25.13 billion from defaulting employers. PenCom made this known in a report. The sum, it said, comprised N12.80 billion principal contributions, and N12.33 billion penalties for delayed payments. The amount covered between...

Pension in N2.4trn Deficit Before Reforms, Says PenCom Boss   The Director-General of the National Pension Commission (PenCom) Mrs Aisha Dahir-Umar, has stated that the pension reforms in the country started when Nigeria was struggling with a N2.4tn deficit. This was disclosed in a new book titled...