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The National Pension Commission (PenCom) has said retirees from the public and private sectors had since the inception of the Contributory Pension Scheme (CPS) paid N371.21 billion premium to life insurance companies managing annuity accounts.
The Nigeria Employers Consultative Association (NECA) has urged employers of labour to comply with provision of the Pension Act and ensure they remit to the Contributory Pension Scheme (CPS).
As companies and organisations both in the public and private sectors continue to streamline their workforce to minimise costs, no fewer than 324,141 sacked workers have withdrawn N113.21 billion from their Retirement Savings Accounts (RSAs) as of the end of June.
Only 1.78 per cent Nigerian workforce is captured in the pension pot of the Contributory Pension Scheme (CPS) and have a secured life after retirement, a report obtained by newsmen has shown.
Governor of Benue State, Samuel Ortom, on Friday met with protesting pensioners in the state, promising to release funds to complete the payment of their pensions.
The Permanent Secretary, Ogun Bureau of State Pensions, Mrs Ajiun Dada, on Wednesday, said the state government had paid N4.7 billion to pensioners in the state between January and June.
The rising acceptance of micro pension scheme being driven by the National Pension Commission (PenCom), has led to steady rise in pension assets. The pension funds grew from N9.12 trillion in April to N9.33 trillion in June 2019, indicating a N21 billion increase.
They urged President Muhammadu Buhari, National Assembly and Pension Commission (PenCom) to either repeal the policy or direct the pension administrators to pay the shortfalls.
Police retirees under the Contributory Pension Scheme (CPS), supervised by the National Pension Commission (PenCom) are now lamenting over undue delay in the remittance of their accrued benefits said to have accumulated for over one year.
Managing Director and Chief Executive Officer, IEI-Anchor Pension Managers Limited, Mr. Glory Etaduovie, has said that the ongoing data recapturing exercise of pension contributors and retirees by the Pension Fund Administrators, PFAs, nationwide will protect pension clients against cyber crime and other fraudulent intents and activities.
This was revealed by the National Pension Commission (PenCom) in its monthly report on summary of pension fund assets and Retirement Saving Account (RSA) registration published on its website.
The National Pension Commission (PenCom) on Monday continued its 2019 verification and enrolment exercise for employees of Federal Government Treasury-Funded Ministries, Departments and Agencies (MDAs) due to retire between January 1 and December 31, 2020.
Telecommunications firm, MTN, has notified the Nigeria Stock Exchange of a substantial change in its board structure. Pioneer board chair, Pascal Dozie, is stepping down along with five other directors.
The Managing Director and Chief Executive Officer of the Nigeria Deposit Insurance Corporation (NDIC), Umaru Ibrahim, has appealed to the 9th Senate for the speedy passage of the pending NDIC Act, 2006 (as amended) currently before the National Assembly.
The acting Director-General of National Pension Commission, Mrs Aisha Dahir-Umar, has alleged that some of the 36 states operating the Contributory Pension Scheme refused to remit about N3.4 billion pension contributions deducted from their workers monthly remunerations into their respective Retirement Savings Accounts (RSAs) with their Pension Fund Administrators (PFAs).
Some of the states operating the Contributory Pension Scheme refused to remit about N3.4bn pension contributions deducted from their workers monthly remunerations into their respective Retirement Savings Accounts with their Pension Fund Administrators, so says the acting Director-General, National Pension Commission, Aisha Dahir-Umar.
The National Bureau of Statistics (NBS) on Tuesday released the Consumer Price Index (CPI) which measures inflation with the index rising to 11.24 per cent in September.
Maverick entertainer and activist, Charles Oputa, popularly known as ‘Charly Boy’, is set to perform at the 2019 annual Felabration fiesta, a week-long celebration of the life and times Fela Anikulapo-Kuti.
A joint border patrol team of Customs and Military officers gunned down a suspected rice smuggler yesterday in the Babura Local Government Area of Jigawa State.
The absence on Tuesday of three of the five students of the University of Lagos (UNILAG), facing trial for allegedly gang-raping a student of the institution has stalled their criminal trial.
Speaker, House of Representatives, Femi Gbajabiamila, has attributed the poor socio-economic and political situation in Nigeria to the inadequate participation of women in active politics.
United States President Donald Trump tried to justify the de facto green light he gifted his Turkish counterpart Recep Tayyip Erdogan for an assault seen as a blatant betrayal of Washington’s erstwhile Kurdish allies.
Troops of the Operation Thunder Strike have rescued six students of the Government Day Secondary School, Gwagwada in Chikun Local Government Area of Kaduna State abducted on their way to school on Thursday morning.g
Lionel Messi feared Paris Saint-Germain forward Neymar would join Real Madrid in the summer if Barcelona failed to land his signature.
Mr Lekwa Ezutah, National President of Nigerian Institute of Town Planners (NITP), has urged government at all levels to create environment conducive to attract investors and improve the economy.
Families of Islamic State (IS) group members escaped a displacement camp in northern Syria where a Turkish offensive against Kurdish forces has sparked fierce fighting, Kurdish authorities said Sunday.