25,645 Workers Move N102.59bn To Other Operators, Dump PFAs       No fewer than 25,645 workers who were displeased with their Pension Fund Administrators have transferred N102.59bn in their Retirement Savings Accounts to other PFAs. The National Pension Commission disclosed this in a presentation titled ‘Understanding the RSA...

PenCom Stop Charges On Artisans’ Savings Below N5m       The National Pension Commission has ordered Pension Fund Administrators to stop charging any fee on micro pension funds under their management that are below N5m. It disclosed this on Monday in a circular signed by the Head, Surveillance...

PFAs Invest N8.3trn In FGN Securities       Pension Fund Administrators (PFAs) have invested N8.32 trillion in Federal Government’s Securities, out of the N12.39 trillion pension fund assets recorded as at April 2021. According to the National Pension Commission (PenCom) Monthly Summary Report released on April 26, 2021,...

2,210 Workers Withdrew N3.18bn From Voluntary Pension Contributions – PenCom       A total of 2,210 workers withdrew N3.18bn from their Retirement Savings Accounts with their respective Pension Fund Administrators in six months after making additional voluntary contributions, the National Pension Commission has said. PenCom said this in...

2,799 Workers Change Pension Firms, Move N18.89bn         No fewer than 2,799 workers under the Contributory Pension Scheme have moved their Retirement Savings Accounts from their former Pension Fund Administrators to other operators. Statistics obtained from the National Pension Commission on its report titled ‘Update on the...

PFAs Pay 11,796 Disengaged Workers N5.33bn       The Contributory Pension Scheme (CPS) has continued to relieve pressure on workers who lose their job, by paying them 25 per cent out of their pension. According to the National Pension Commission (PenCom), 11,796 workers who lost their jobs were...