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...
Operators Invest N636bn Pension Funds In Banks
The Pension Fund Administrators have invested N636.99bn out of the total pension funds in their custody in banks as of the end of November 2018.
This amounted to 7.49 per cent of the funds managed by the pension operators.
Figures...
PFAs Stake N5.2tn On FGN Securities
Out of the total N7.52tn total pension assets as of December 31, 2017, about N5.2tn, representing 70 per cent of the entire fund, was invested in Federal Government securities by Pension Fund Administrators.
The figures are contained in the 2017...
Return 5% Lump Sum To Retirees, PenCom Orders PFAs
The National Pension Commission has directed the Pension Fund Administrators to pay additional five per cent lump sum to retirees that were initially paid 20 per cent of total balance in their Retirement Savings Accounts on...
Accrued Rights: PFAs Yet To Feel Impact Of N54bn Released By FG
Pension Fund Administrators (PFAs) are yet to feel the impact of the N54 billion released by the federal government last year for payment of accrued rights of pensioners for 2016 and 2017.
A reliable...
PFAs Asset Allocation: FGN Bonds Lead With N3.6tn
Despite the yawning infrastructural gap in Nigeria, the Pension Fund Administrators (PFAs) in the country have continued to allocate majority of their assets in the Federal Government of Nigeria (FGN) bonds, staking over 50.1 per cent of...
