FBN Holdings Plc has announced the completion of the acquisition of 100% of the share capital of Access Pension Fund Custodian Limited, a subsidiary of Access Bank Plc by First Pension Custodian Nigeria Limited, a subsidiary of First Bank Nigeria Limited. The Group’s Company Secretary, Barrister Adewale Arogundade, made this disclosure in a statement sourced […]
The National Pension Commission (PenCom) has released a revised Regulation on Retirement and Terminal Benefits for immediate implementation by PFAs and other stakeholders involved in the nation’s pension management. Specifically, the revised regulation contains new provisions on Pension Enhancement, Voluntary Contributions, payment under the Micro Pension Plan (MPP), payment of benefits of missing persons and […]
The National Pension Commission (PenCom) reported that it paid N326.32 billion as retirement benefits to retirees enrolled in the Contributory Pension Scheme (CPS) in 2021. The commission, in its just published 2021 Annual Report indicated that the payments comprised retirement benefits and a 25 percent payout due to temporary loss of job during the year. […]
Nigeria’s total pension fund assets grew to a record highest value of N13.61 trillion in January 2022, representing 1.4% or N183.8 billion rise over the value of the assets totaling N13.42 trillion as of December 2021. The latest pension assets value was contained in the unaudited report by the regulatory authorities on the pension funds […]
The National Pension Commission (PenCom) has unveiled plans to commence the pilot phase of its online pre-retirement verification and enrolment exercise for retirees in government ministries, departments and agencies (MDAs) effective from August this year. The commission gave this hint during its two-day workshop for journalists, titled “Positioning the Pension Industry in a Post-COVID era, […]
The National Pension Commission (PenCom), on Monday disclosed that Nigeria’s pension fund assets had risen to N12.66 trillion even as contributors under the Contributory Pension Scheme (CPS) also rose to the 9.38 million as at June 30 this year. PenCom’s Director General, PenCom , Mrs. Aisha Dahir-Umar, who gave these figures during the 2021 Journalist […]
The House of Representatives has called on the Federal Government to rally States and Local Government Councils’ support for full implementation of the Contributory Pension Scheme ((CPS) in line with the National Pension Commission’s guidelines on the scheme. The call by the lawmakers was sequel to the deliberation on a motion titled ‘Full Implementation of […]
The National Pension Commission (PENCOM) has put the total pension assets under the Contributory Pension Scheme (CPS) at N12.3 trillion as at the end of fiscal year 2020, representing about N2.1 trillion over the assets’ value as of the end 2019. Latest figures published by the commission indicated that out of the gross asset value […]
The Securities and Exchange Commission (SEC) has removed the regularisation deadline earlier set for shareholders that opened accounts for the purchase of shares with different names to regularise them. The removal of the deadline, which was confirmed in a statement by the commission issued on Sunday, was part of the outcome of the third Capital […]
President Muhammadu Buhari on Thursday launched a Micro Pension Plan for operators in the nation’s informal sector with a promise to address the constraints undermining the efficiency of the pension system. The President said that government initiated the latest plan in order to ensure that those in the informal sector were captured in the pension […]