Despite the directive of the National Pension Commission that Pension Fund Administrators should invest 25 per cent of their funds in the capital market, investigations have revealed that the PFAs have not been complying with the order as they now invest
Contributions to the Nigerian contributory pension scheme has hits N1.7 trillion, the National Pension Commission (Pencom), has disclosed. The Head of Corporate, Strategies and Research of Pencom, Farouk Aminu, who revealed this yesterday, when a team of
The revelation two weeks ago by the Director-General, National Pension Commission, Dr. Mohammad Ahmad, that more Pension Fund Administrators were likely to go into mergers has started taking root as the boards of ARM Pension Managers Limited and First All
The National Pension Commission (Pencom) said at the weekend that, the total pension fund assets under the contributory pension scheme stood at N1.098 trillion as at December 31, 2008, out of which it exposed N430.98 billion or 39.22 per cent to the banki
If truly the objective of the Pension Reforming Act 2004 was to ensure that people, who retire either from the public or private sector employment receive their retirement benefits as and when due, then the decision by the National Pension Commission (Pen
The Federal Government on Monday began the payment of N17bn pension to workers and retirees of the Nigerian Telecommunications Limited and its mobile subsidiary, the Nigerian Mobile Telecommunications Limited.
Shareholders under the aegis of Independent Shareholders Association of Nigeria (ISAN) has said that the return of investorsÃƒÆ’Ã†â€™Ãƒâ€šÃ‚Â¢ÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â€šÂ¬Ã…Â¡Ãƒâ€šÃ‚Â¬ÃƒÆ’Ã‚Â¢ÃƒÂ¢Ã¢â€šÂ¬Ã…Â¾Ãƒâ€šÃ‚Â¢ confidence in the National Pension Commi-ssion (
THE Enugu State chapter of the Civil Liberties Organisation (CLO) has said that the inherent injustices and contradictions were responsible for its opposition to the proposed contributory pension scheme bill between workers and government now before the S
Stanbic IBTC Pension Managers has commended PENCOM for the on-going reforms in rendering pension services to retiring Nigerians stating that this is a situation away from the initial difficulties experienced by retiring public and civil servants in access
About N850 billion Pension Funds is available for investment opportunities. S.A Oni Director Financial Institutions Department of the Central Bank of Nigeria (CBN) made this disclosure recently to Proshare N/I.
From the troubled SpringBank Plc came a tiding news for its pensioners as the three man Arbitial Tribunal chaired by Chief Anthony Idigbe (SAN) awarded a sum of N259,172,459 from them \"as their pension benefits.
Afrinvest West Africa, a member of the Nigerian Stock Exchange (NSE) has disclosed that the investment figure of the national contributory pension scheme since its inception in June 2004, stands at about N70 billion ($538 million).
Employers in the private sector now have up till next month to get their employees registered with Pension PFAs or be ready to face sanctions as provided in the Pension Reform Act, the National Pension Commission announced in Lagos yesterday.
Pensioners across the country who have completed the Federal Governments verification exercise should from today check with their banks for the payment of their arrears, according to the Finance Minister, Mrs Esther Nenadi Usman.
The search for a solution to pension administration problems in the country turned spiritual yesterday, in Akure, Ondo State; where no fewer than 4,000 pensioners, mostly grey-haired men and women, gathered at the Sacred Heart Cathedral to pray for help.
Nigerias pension arrears crisis will be over in the next six weeks. This was the assurance given at the weekend by the Chairman of the Presidential Economic Team and new Foreign Affairs Minister, Dr. Ngozi Okonjo-Iweala.
The sub-committee of the Special Task Force on Port Reform, headed by the Accountant-General of the Federation, may begin payment of terminal benefits to retired staff of the Nigerian Ports Authority next week.
Governments response to delay in payment of pension has manifested in drastic reforms in that sector. But despite this, many old citizens were recently subjected to a pension-verification exercise - Chief Ogala Osoka
A total of N63 billion deducted from workers income under the contributory pension scheme is lying idle with the Central Bank of Nigeria, while a paltry N400 million has been released into the economy by pension fund administrators.
Fresh reports indicate that the numerous audits of staff and pensioners have failed to check the activities of an organised syndicate. The fraud in civil service pensions is the direct consequence of the crooked payroll system, which the nation still oper
The biggest legacy that the Pension Reforms Act many bring to bear in the national economy is the provision of long term funds for deepening the financial markets and strategic investments in social infrastructure.