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PENCOM: Most states not implementing Contributory Pension Scheme

Most states across the six geopolitical zones in the country are yet to fully implement the Federal Government’s Contributory Pension Scheme (CPS), a report by the National Pension Commission (PENCOM) has revealed.
Nigerian Stock Exchange NSE

Analysts anticipate stock market rally after OMO restriction

The decision by the Central Bank of Nigeria (CBN) to restrict individuals and local firms, non-bank financial institutions inclusive, from investing in its open market operations (OMO) auctions may end up providing a welcome boost to one of the world’s worst-performing stock markets, the Nigerian Stock Exchange (NSE).
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.

Aisha Dahir-Umar: PenCom’s priority is to pay retirees, not investment

The National Pension Commission (PenCom) on Wednesday said its priority is the payment of retirement benefits as and when due.

Jigawa signs MoU with 10 pension administrators

Jigawa State Pension Board has signed a Memorandum of Understanding (MoU) with 10 Pension Fund Administrators (PFAs) for management of its funds for a period of two years.
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.

CPS: Retirees pay N371.21 billion to life insurance firms

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.

Only 1.78% Nigerian workforce captured in pension net

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.
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.

Micro pension plan, grassroots campaigns lift assets to N9.33 trillion

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.

Police retirees groan over delayed pension payment

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.

Data recapturing to protect pensioners from cybercrime – coy

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.

Pencom holds verification, enrolment exercise for retiring federal workers

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.
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.

Pencom: States fail to remit N3.4 billion deducted from workers’ pay

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.

Pencom: Over N3.4 billion deducted from workers’ pay as pension un-remitted

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.
Ogun state governor Prince Dapo Abiodun has tweeted his real official portrait, as against the image that is being circulated by street traders in Abeokuta, the capital.

Governor Abiodun: My appointments will be based on merit

Ogun State Governor Dapo Abiodun has said that the composition of his administration’s cabinet will be determined by merit, stressing that qualified professionals were imperative to the execution of his plans for the people of Ogun.
Dapo Abiodun

Governor Abiodun: I’ll meet civil servants’ expectations steadily

The Ogun State governor, Prince Dapo Abiodun, has assured civil servants in the state that his administration would meet their expectations steadily.
President of the Nigeria Labour Congress (NLC), Mr Ayuba Wabba

Minimum wage: Labour urges federal government to finalise salary adjustment

The Organised Labour has called on the Federal Government to quickly finalise the salary adjustment and implementation of the new National Minimum Wage for workers in the country.

Expert seeks increased awareness on multi-fund investment structure

A Chartered Insurer and former Managing Director of Linkage Assurance Plc, Dr. Pius Apere, has kicked against the multi-fund investment structure introduced last year by the National Pension Commission (PENCOM), stressing that the Pension Fund Administrators (PFAs) have not created enough awareness on the initiative.

PenCom directs PFAs to invest on projects

The National Pension Commission (PenCom) has directed Pension Fund Administrators (PFAs) to invest a minimum of 60 per cent of their funds on projects within Nigeria.

PenCom to attract 60 million enrolees, N3 trillion growth

The National Pension Commission (PenCom) is set to attract 60 million Nigerians in the informal sector to the pension scheme and hit N3 trillion assets growth.

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