Contributory Pension Assets Rise To N12.4trn       The total assets under the Contributory Pension Scheme rose to N12.4tn as of the end of April, according to the latest data obtained from the National Pension Commission on Wednesday. PenCom, in its unaudited report on the pension funds industry...

PenCom Raises PFAs’ Shareholders Funds To N5bn       The National Pension Commission has ordered the Pension Funds Administrators to raise their shareholders’ funds from N1bn to N5bn. Some operators disclosed this to our correspondent on Thursday. According to the commission, the total number of workers with pension accounts...

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,...

PenCom To Adopt Electronic Pension Verification       The National Pension Commission (PenCom) said it will adopt an automated electronic process to conduct the annual verification and enrolment exercise. In a statement yesterday, PenCom said due to the COVID-19, it could not conduct the 2020 exercise physically for...

Labour Rejects New Bid To Borrow From N17trn Pension Fund         Organised Labour on Thursday rejected a fresh bid by governors to borrow from the N17 trillion pension funds. The Nigeria Labour Congress (NLC) kicked against a similar proposal by Works and Housing Minister Babatunde Fashola to...

Lagos State Govt Pays Over N25bn As Retirement Benefits       Governor Babajide Sanwo-olu of Lagos State on Thursday said that his administration had paid over N25 billion into the Retirement Savings Account (RSA) of retirees of the state since he came on board 18 months ago. Sanwo-olu,...