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Contributory Pension Scheme

House of Reps urge federal government to pay 33 percent pension arrears to retirees

The House of Representatives on Tuesday called on the Federal Government to ensure payment of 33 per cent pension savings to pensioners in the country.

PenCom begins pre-retirement verification, enrolment of workers

No fewer than 1,000 employees of the federal government due to retire in 2019 are expected to appear at the Enugu centre for the week-long Pre-Retirement Verification and Enrolment of employees operating under the Contributory Pension Scheme (CPS).

Lagos government workers to get gratuity three months after retirement soon – Official

The Lagos State Government is to introduce an efficient pension scheme for its workforce, an official said on Sunday.

Federal government commences pre-retirement process

The Federal Government on Monday commenced the pre-retirement process, which includes verification and enrolment of its workers, under the Contributory Pension Scheme.

PENCOM to start verification of prospective retirees

The National Pension Commission on Wednesday said it had concluded plans to commence verification of prospective retirees from the Federal Civil Service for 2019.

PenCom: Why we reduced 50% lump sum payable to retirees

The National Pension Commission says the 50 per cent lump sum payable to retirees as gratuity on retirement from their Retired Saving Account was reduced to enable retirees to earn at least 50 per cent of their last monthly salary as pension.

PenCom commences sensitisation and verification of 2019 retirees

The National Pension Commission has kicked-off a pre-retirement workshop for 14,000 prospective 2019 retirees under the Contributory Pension Scheme to bridge the knowledge gap of retirees on the scheme.

Governor Ambode clears N37.546 billion pension arrears

The Lagos State Pension Commission (LASPEC) said Gov. Akinwunmi Ambode of Lagos State, has paid a total of N37, 546 billion to pensioners since 2015.

2019: Governor El-Rufa’i urges Kaduna people to reject violence

Governor Nasir El-Rufai of Kaduna State has urged people of Kaduna State to reject any attempt to bring about disharmony among them ahead of the 2019 elections.

PENCOM sets date for takeoff of multi-fund structure pension

The multi-fund investment structure for all contributors under the Contributory Pension Scheme (CPS) is scheduled to take off July 1, 2018, the National Pension Commission (PENCOM) announced on Thursday.

Ogun workers urge Governor Amosun to pay their 48-month leave allowances

The Ogun State chairmen of the Trade Union Congress and the Nigeria Labour Congress, Olubunmi Fajobi and Akeem Ambali, respectively, have urged Governor Ibikunke Amosun to pay their members’ 48 months leave allowances and 18 months global deductions.

Federal government borrows N5.5 trillion from pension savings, fails to fulfil funding arrangement

About two years after the Pension Fund Administrators started funding the Pension Protection Fund meant for financing minimum pension payment to retirees under the Contributory Pension Scheme, the Federal Government has yet to fulfil its own side of the funding arrangement.

Lagos remits N35.92 billion into RSA of 8,731 retirees

The Lagos State Government says it has remitted N35.92 billion into the Retirement Savings Accounts, RSA, of 8,731 retirees in the state.

Lagos government releases N1.24 billion to pay pensioners

The Lagos State Government says it has released N1.24 billion to pay its retirees for March.

PenCom recovers N1.34 billion pension in third quarter of 2017

The National Pension Commission (PenCom) has recovered pension contributions and interest totalling N1.34billion from defaulting employers during the third quarter of 2017.

Lagos govt pays N838 million to retirees in February

Lagos State Government has released N838 million to pay accrued pension rights of 141 retirees under the Contributory Pension Scheme for the month of February, 2018.

PenCom: Dead workers’ relatives receive N129bn pension, insurance settlements

A total of 42,851 relatives of deceased workers under the Contributory Pension Scheme have been paid pension and insurance benefits from the commencement of the CPS till September 2017.

Retirees with low savings quit contributory pension scheme

Retirees under the Contributory Pension Scheme who could not be entitled to monthly pensions have withdrawn their money from their respective Retirement Savings Accounts.

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