The National Pension Commission (PenCom) has said that Pension Fund Administrators paid N67.42 billion as retirement benefits to pensioners under the Contributory Pension Scheme in the first quarter of 2021. This was lower than the N90.99 billion paid in Q4 2020.…
By Asishana John Pension operators in Nigeria constrained economy are beginning a 12-month hunt for additional N4 billion in new capital after a review by regulators raised minimum regulatory capital to N5 billion from the current N1 billion level. The…
A total of 49,353 employees have opened pension accounts under the Contributory Pension Scheme (CPS) in January and February this year. This brings the total number of workers with pension accounts to 9,265,141 as of the end of February 2021,…
By Asishana John The total gross assets value has dropped to N6.9 billion, representing a 0.06 per cent fall in January 2021 compared to the amount recorded in December 2020 despite that the total Retirement Savings Account (RSA) rose during…
By Kayode Tokede The National Pension Commission (PenCom) has vowed to punish Pension Fund Administrators (PFAs) who violate the procedures on death benefit payments PenCom has also stopped the operators from paying more inflows into deceased employees’ Retirement Savings Account…
