The Pension Fund Operators Association of Nigeria (PenOp) on Tuesday lauded the National Pension Commission (PenCom) for releasing guidelines to access equity for residential mortgage. A statement made available by PenOp’s spokesperson, Ms Olajumoke Akinwa, in Lagos described the policy…
By Matthew Denis Abuja The National Pension Commission (PenCom) has approved guidelines on accessing Retirement Savings Account (RSA) balance towards payment of Equity Contribution for residential mortgage. This is contained in a Communique made available to Nigerian NewsDirect on Tuesday.…
By Matthew Denis Abuja The National Pension Commission (PenCom) has debunked the allegation making rounds that the least paid employee earns a salary of N3 million per month. This is contained in a statement made available to Nigerian NewsDirect by…
The National Pension Commission (PenCom) says it has approved the acquisition of Access Pension Custodian Limited by First Pension Custodian Limited. FBN Holdings Plc, had through its subsidiary First Pension Custodian Limited, agreed with Access Bank Plc to buy out…
Pension Fund Administrators (PFA) in Nigeria incurred a sum of N18.85 billion as income tax in 2021, a 15.6 per cent increase compared to N16.31 billion spent in the previous year, and 31.4 per cent increase when compared to N14.35…
2,084 retirees cannot be placed on monthly pension payments and have left the Contributory Pension Scheme in the first quarter of 2022 according to the National Pension Commission. This was disclosed in the Commission’s first quarterly report on ‘Enbloc Payment…
Twenty Pension Fund Administrators (PFAs) met PenCom’s deadline to increase their Minimum Regulatory Capital (shareholders’ fund) from N1 billion to N5 billion by April 27. Pension Commission (PenCom) made the declaration in a statement it issued in Lagos on Friday.…
The National Pension Commission (PENCOM) on Tuesday, 19th April 2022 approved Norrenberger’s acquisition of IEI-Anchor Pension. By this move, Norrenberger through its acquisition of IEI Insurance becomes the largest shareholder of the Pension Fund Administrator. Norrenberger has obtained all necessary approvals…
The National Pension Commission (PenCom) says pension fund assets rose to N13.61 trillion as at January 31. This is contained in an unaudited report on pension funds industry portfolio for the period ended January 31, published on PenCom’s website. The…
The National Pension Commission (PENCOM) has said it recovered N2.55 billion pensions deducted by employers from employees’ monthly emoluments in 2021 but not remitted to the Retirement Savings Accounts with their respective Pension Fund Administrators. Data obtained from PenCom’s latest…
