PenCom Reviews Payments As 65,419 Deceased Relatives Claim N215.27bn         To clamp down on fraudulent death benefits and claims that do not meet required internal control measures, the National Pension Commission has stopped death payments to legal beneficiaries by the Pension Fund Administrators without approval. The National...

Only 11% Of Workforce Is Enrolled In The Pension Scheme – PenOp         Despite the astronomical growth recorded in the pension fund, only 11 percent of workforce is enrolled in the Contributory Pension Scheme, CPS, and the micro pension schemes and this number needs to improve,...

Pension Contributors Withdraw N14.79bn As Job Losses Rise         About 26,458 workers who lost their jobs since the COVID-19 pandemic started taking its toll on the economy withdrew N14.79bn from their Retirement Savings Accounts in 10 months. Records from the National Pension Commission have revealed that more...

Pension Contributors Now Over 8.94m         The total membership of the Contributory Pension Schemes increased by 5.67 per cent from 8,469,257 as at December 31, 2018 to 8,949,536 as at December 31, 2019, the National Pension Commission (PenCom) has said. According to the commission in its 2019...

PenCom Allows Contributors To Change Pension Companies         The National Pension Commission has said it has concluded arrangements for the take-off of Retirement Savings Account transfers. A statement on Monday titled ‘Official launch of the Retirement Savings Account transfer system’, said it would enable workers in the...

Only 9,103,653 Workers Have Pension Accounts - PenCom       Only 9,103,653 workers had Retirement Savings Accounts with Pension Fund Administrators as of the end of August. The National Pension Commission disclosed this in its ‘Total RSA registrations as at 31 August 2020’ latest report obtained from on...