The Federal Airports Authority of Nigeria (FAAN) workers' exclusion from the National Pension Commission scheme in 2004 has led to the agency's pension liability soaring to an unprecedented N200 billion. 

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...

Contributory Pension Scheme Now N17trn - PenCom   The National Pension Commission (PenCom) has revealed that the Contributory Pension Scheme has hit N17.7 trillion as of the end of July 2023.The Pension management body said the pension asset increased by about 1.8 per cent from N16.76...