PenCom: Lack Of Board Stalls N14,400 Minimum Pension Payment       Five years after the pension operators and the National Pension Commission drafted guidelines to commence N14,400 minimum pensions for retirees, the payment is yet to begin. A source at PenCom said the minimum pension could not commence...

N1bn Paid To 219 Retirees In September - Lagos Govt       Lagos State has said it paid retirees N1bn as accrued pension rights for the month of September. It said this in a statement on Sunday entitled ‘Lagos State retirees received over N1bn as accrued pension rights...

Pension: 4,668 Job Losers Withdraw N2.56bn In Three Months       A total of 4,668 workers who lost their jobs and could not get another after four months withdrew N2.56bn from their Retirement Savings Accounts during the second quarter of 2020. The National Pension Commission disclosed this in...

Fed Govt Spent N292.38bn On Pension, Gratuities In 2019 – CBN     The Federal Government spent a total of N292.38bn on pension and gratuities of its retirees in the 2019 financial year. The Central Bank of Nigeria disclosed this in its report on ‘Monthly FGN finances’, which...

Pension Fund Assets Hit N10.8trn   Pension fund assets under the Contributory Pension Scheme (CPS) rose to N10.8 trillion in May, growing by N330 billion from the N10.577 trillion recorded the previous month. The number of Retirement Savings Account (RSA) holders grew to 9,016,324 in the period...

Fed Govt Defaults In Pension Remittance For Six Years   Workers have continued to suffer decline in their retirement benefits over the Federal Government’s delay in implementing the mandatory 18 per cent monthly emolument remittance into employees’ pension accounts. The Pension Reform Act 2014 mandates all employers...