PTAD Monthly Payout to Retirees Hits N1trn   The Pension Transitional Arrangement Directorate (PTAD) says it has paid more than N1tn in monthly pensions to over 200,000 retirees under the Federal Government’s Defined Benefit Scheme since 2015. The Director of Corporate Services at PTAD, Kabiru Yusuf, disclosed...

FG Introduces Pension-backed Loans Scheme to Support Retirees   In a bold move to strengthen Nigeria’s consumer credit system and extend financial inclusion to senior citizens, the Federal Government on Thursday launched a pension-backed loan scheme for retirees. The initiative, introduced through the Nigerian Consumer Credit Corporation...

FG Plans N758bn Bond to Offset Pension Liabilities – PenCom   The Federal Government may issue a N758bn bond before the first week of October to clear outstanding pension liabilities, the National Pension Commission (PenCom) has disclosed. Speaking at a press briefing in Abuja on Thursday, the...

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 (...