Acting Director General of the National Pension Commission (PenCom), Aisha Dahir-Umar, has said N6.51 trillion, representing 73 per cent of the agency’s total assets, has been invested in Federal Government securities issued to finance various projects.
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PenCom
248,000 retirees earn N9.36b monthly pensions under CPS, says PenCom
Over 248,000 retirees have begun reaping the benefits of the Contributory Pension Scheme (CPS), taking home over N9.360 billion pensions monthly, just as the pension industry has accumulated over N8.73 trillion worth of assets as at December 31, 2018. While 194,000 retirees earn an average pension of N6.56 billion under Programmed Withdrawal, 54,000 of them […] …
Annuity business bounces back, leads contribution to gross premium
AS the crises over transfer of all annuity assets under the management of life insurance companies to Pension Fund Custodians, PFCs, finally settles, growth in annuity business is now outpacing insurance industry’s total life premium income.
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Reps panel summons Emefiele, finance minister over PenCom probe
The house of representatives ad-hoc committee investigating the National Pension Commission (PenCom) has summoned heads of the Central Bank of Nigeria (CBN), ministry of finance and civil service of the
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PenCom grants new PFA licence
The National Pension Commission (PenCom) has issued license to a new Pension Fund Administrator (PFA). The PFA is named the Nigerian University Pension Management Company Limited (NUPEMCO). NUPEMCO, according to PenCom, will operate like a Pension Fund Administrator (PFA). A statement made available to newsmen read: “PenCom has approved the issuance of a licence to […] …
Reps probe of PenCom worries stakeholders
The decision by the House of Representatives to probe the activities of the National Pension Commission since April 2017 till date appears to have brought about calmness in the pension industry. There have been worries, however, by Industry stakeholders on the nature of the information that the probe may provide to the public. While some […] …
Pencom to launch micro pension
All is set for the launch of Micro Pension Scheme by the National Pension Commission (PenCom) this month. The planned micro pension is expected to attract over 20 million workers and N3 trillion into the pension assets. With total pension assets as at October, 2018 at N8.45 trillion, the country’s pension assets are expected to […] …
Unwholesome practices: Reps summons acting PenCom DG Dahir-Umar
Nigeria’s House of Representatives at plenary By Abiemwense MoruThe House of Representatives Ad-hoc Committee investigating the Apex pension body, PenCom, has invited top management staff of the commission and 21 Pension Funds Administrators, (PFAs) to appear before it on Thursday. The committee, set up by the House in Dec. 2018, is expected
PenCom to attract 60m enrolees, N3trn growth
PenCom, vested interests and security of pension fund
Anyone who has ever headed an organisation or association of people knows the peril of fighting corruption and those who profit from it. It is a hazardous venture undertaken only by persons with strong character, conviction and determination.
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