PFAs Invest Additional N693bn Pension Funds In Banks   The Pension Fund Administrators invested N693bn funds under the Contributory Pension Scheme in banks in nine months, according to data from the National Pension Commission. PenCom’s unaudited report on pension funds industry portfolio for the period ended September...

In Nine Months, Pension Contributors Rose By 245,385 – PenCom   The number of workers with pension accounts under the Contributory Pension Scheme rose by 245,385 in nine months to 9,461,173. The latest data obtained from the National Pension Commission on ‘Total RSA registrations as at 30...

Pension Industry Grows By 18% In Five Years – PenOp   Nigeria’s pension industry grew by 18 per cent in the last five years, the Pension Funds Operators Association of Nigeria has said. PenOp said this in a statement titled ‘Pension funds and private equity in Nigeria:...

Retirees Rise By 27%, Collect N890bn From Govts, Private Sector     The total number of retirees under the Contributory Pension Scheme has risen by 27 per cent in two years, data obtained by our correspondent have shown. Specifically, the total number of retirees rose from 291,569 in...

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 Recovers N608.55m From 25 Defaulting Employers   The National Pension Commission has said it recovered N608.55m from 25 employers who deducted the monthly emoluments of their workers but did not remit to their respective Pension Fund Administrators. PenCom said this in its first-quarter 2021 report obtained...