The Pension Transitional Arrangement Directorate (PTAD) has announced a new process for diaspora pensioners under the Defined Benefit Scheme (DBS) who were suspended from the pension payroll due to unverified status. These pensioners are now required to renew their “Aliveness…
The value of pension funds in Nigeria increased by 2.23 percent month-on-month to cross the N20 trillion mark to N20.23 trillion in May 2024. According to the unaudited report on the pension funds industry portfolio for the period ended May…
By Esther Agbo Nigeria’s Pension Fund Administrators (PFAs) are facing increased pressure due to the federal government’s failure to disburse accrued pension rights to recent retirees. The last pension payments were made in 2022 when the government released N13.89 billion…
Data from the National Pension Commission (PenCom) indicates that Nigeria’s pension fund assets have increased to N19.787 trillion as of April 30, 2024. This marks a growth of approximately 0.6 percent compared to the N19.669 trillion recorded as the net…
Leadway Pensure, one of Nigeria’s leading Pension Fund Administrators (PFA), has announced the appointment of Olusakin Labeodan as its new Chief Executive Officer, effective June 1, 2024. This strategic transition follows the retirement of Lanre Idris, who worked with the…
Nigeria’s pension industry has shown remarkable growth, with the National Pension Commission (PenCom) reporting a significant 20 percent year-on-year increase, bringing the total assets under management (AUM) to N17.4 trillion as of September 2023. In a recent analysis by FBNQuest…
By David Awoyemi The National Pension Commission, PenCom, has pleaded with Nigeria Employers’ Consultative Association, NECA, to develop robust programmes to further improve compliance with the Pension Reform Act, PRA 2014 by its member companies. However, PENCOM had commended NECA…
Leadway Pensure says it has paid not less than N175 billion in retirement and terminal benefits to over 85,000 of its customers since the inception of the Contributory Pension Scheme (CPS) in 2004. Team Lead, Customer Relationship Management Department of…
The Nigerian Pension Fund Index gained a whopping 16 per cent in the month of June as investor sentiments sent stocks soaring to record highs. The NGX data also shows the Pension Fund Index has returned a whopping 44 per…
The National Pension Commission (PenCom) has disclosed that it has recorded 95,045 Micro Pension participants under the MicroPensionPlan (MPP), Contributing N435.61million as at April 2023. Director General, PenCom, Aisha Dahir-Umar, disclosed this at the maiden edition of the Micro Pension…
