Market Date: 22-05-2013
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Pensions
Pension's Update - Group Life Insurance and NSITF
Here is a quick ‘heads-up’ on Group Life Insurance and the Nigeria Social Insurance Trust Fund (NSITF).
PenCom targets Young Contributors, Mulls 50% Limit for Stock Market Investment
The Nigerian capital market is poised to witness more patronage by Pension Funds Administrators (PFAs) next year.
N2.4tr pension fund will be used to finance infrastructure
N2.4tr pension fund will be used to finance infrastructure
Contributory Pension: PenCom Highlights Compliance Requirements for Employers
Contributory Pension: PenCom Highlights Compliance Requirements for Employers
New banking regime: PenCom to transfer assets of bank-owned PFAs
New banking regime: PenCom to transfer assets of bank-owned PFAs
Pension funds can now invest in infrastructure, foreign bonds
Pension funds can now invest in infrastructure, foreign bonds
PENCOM Moves to Expand Investment Options for PFAs
PENCOM Moves to Expand Investment Options for PFAs
Pension fund administrators switch to govt bonds
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
Contributory pension fund hits N1.7 trillion, says official
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
Merger rally hits PFAs, as ARM, First Alliance conclude deal
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
Pension Assets Hit N1.7tr
Pension assets in the country have grown to N1.7 trillion in less than six years, after contributing penson was established, National Pension Commission (PenCom), has said.Pension Assets Hit N1.098tr
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
Leadway urges private sector to embrace new pension scheme
The Managing Director, Leadway Pensure PFA Limited, Mrs. Aderonke Adedeji, has stressed the need for the public, most especially the private sector, to embrace the new pension scheme.
Restriction of contributors to one PFA and the growth of pension scheme
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
Pension: FG begins payment of N17bn to NITEL workers
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.
Pension Fund: Private Sector Contributes over 70%
Shareholders under the aegis of Independent Shareholders Association of Nigeria (ISAN) has said that the return of investors’ confidence in the National Pension Commi-ssion (
APFN calls for expertise in pension matters
The Association of Pension Funds of Nigeria has called for more expertise in the management of pension matters in the country.
Stakeholders want micro-finance banks in pension payment sch
STAKEHOLDERS have called on the Federal Government to include micro-finance banks (MfBs) as outlets for the payment of pension entitlements.
CLO explains why it opposed contributory pension scheme bill
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 pays N500m to retired workers
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
PENCOM to sue non-compliant employers of Pension Act
Three years into the Pension Reforms Act, nearly N1 trillion has been realised as pension funds, the National Pension Commission (PENCOM) has disclosed.
N850bn pension funds available for investment
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.
Pension fund contributions hit N600bn
Over N600bn has so far been contributed by pension fund subscribers under the new National Pension Scheme, which was inaugurated in February, 2005.
Tribunal awards N259m benefits to SpringBank pensioners
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.
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The Managing Director, Nigerian Electricity Liability Management Company, Mr. Sam Agbogun, said on Thursday that the Power Holding Company of Nigeria had a pension deficit of N107bn.
National contributory pension scheme hits N70b
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).
Private sector employers get deadline on pension
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.
Bush signs Pension Bill Reform
President Bush signed a broad overhaul of pension and savings rules Thursday, giving millions of people a better chance of getting the retirement benefits they have earned.
Pensioners to receive pay through banks
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.
Ondo pensioners in church, pray for payment of benefits
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.
Govt to clear pension arrears in August
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.
FG begins payment of N30.5bn to NPA retirees
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.
Inadequate Planning Is The Bane Of Pensioners
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
N63bn pension fund lodged with CBN
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.
Federal workers contribute N60m to pension fund
Employees of the Federal Government have since the inception of the new pension scheme in 2004 contributed N60 million to the fund.
Experts warn on rash of adverts by PFAs
Experts say much as these companies have started getting attention, their advertisements have been largely off the mark, making it difficult to achieve the expected impact.
Stocks of only 20 firms qualify for PFA funds
Stocks of only about 20 of the 214 companies listed on the Nigerian Stock Exchange (NSE) may qualify for investments by Pension Fund Administrators (PFAs).
Stealing from pensioners
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
Pension reforms to provide long term investment
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.
