Pension Archives — City Business News

January 5, 2024 No Responses

NGX, PenCom To Deepen PFAs Equity Participation With Pension Broad Index

Nigerian Exchange Limited in collaboration with the National Pension Commission (PenCom) launched the NGX Pension Broad Index (NGXPENBRD) on 15 June 2023, which provides a broader benchmark for equities investment by the pension industry. The NGX Pension Broad Index is...

April 21, 2023 No Responses

Lagos Pays N50.7b To Retirees

The Lagos State Government on Thursday said it had paid over N50.7 billion to 13,928 retirees, from 2019 till date. The Commissioner for Establishments, Training and Pensions, Mrs Ajibola Ponnle, made this known during the 100th Retirement Bond Certificate Pre...

January 9, 2023 No Responses

Edo Earmarks N15b For Pension In 2023

The Edo State Commissioner for Communication and Orientation, Chris Nehikare has described the recent protest by pensioners over payment of gratuities to retirees as politically motivated. The commissioner stated this while addressing Journalists in Beni...

January 6, 2023 No Responses

FG Releases N13.89b Pension For 2022 Retirees

The Federal Government has released N13.89 billion for payment of Accrued Pension Rights (APRs) of 2022 retirees of Ministries, Departments and Agencies (MDA’s). National Pension Commission (PenCom), made the disclosure on Thursday in a statement on it...

April 30, 2022 No Responses

20 Pension Fund Administrators Meet Deadline For N5b Minimum Capital

Twenty Pension Fund Administrators (PFAs) met PenCom’s deadline to increase their Minimum Regulatory Capital (shareholders’ fund) from N1 billion to N5 billion by April 27. Pension Commission (PenCom) made the declaration in a statement it issued in Lag...

March 31, 2022 No Responses

Lagos Pays N38b Pensions To 9,865 Retirees

The Lagos State Government (LASG) on Wednesday said that it had paid nothing less than N38billion as accrued pension rights to 9,865 retirees from May 2019 till date . The Commissioner for Establishments, Training and Pensions, Mrs Ajibola Ponnle, ...

December 17, 2021 No Responses

Court Orders PenCom, Sigma Pension To Pay Retiree 50 Per Cent RSA Of N10m

The National Industrial Court has ordered the National Pension Commission and Sigma Pension Limited to allow a retiree, Rakiya Girei access to withdraw 50 per cent of her Retirement Savings Account (RSA), within 30 days. The judge, Justice Benedict ...

July 27, 2021 No Responses

Pension Fund Hits N12.66tri

The National Pension Commision (PenCom), on Monday disclosed that pension fund assets had risen to N12.66 trillion as at June 30, 2021, with contributors under the Contributory Pension Scheme (CPS) hitting the 9.38 million mark. Speaking at the 2021 Jour...

May 23, 2020 No Responses

Imo Abolishes Payment Of Pensions To Ex-Governors, Speakers

Governor of Imo State, Hope Uzodinma has assented to a bill repealing the law that created pension allowances and gratuities for former Governors, Deputy Governors, Assembly Speakers and Deputy Speakers. Signing the bill into law in Owerri on F...

October 10, 2019 No Responses

NPA: Concerned Pensioners Not Known To Any Nigerian Law

The management of Nigerian Ports Authority (NPA) on Wednesday rejected what it described as “blackmail of a section of its former workers who have assembled under the name; Nigerian Ports Authority Concerned Pensioners (NPACP), a group that is not known...

August 7, 2018 No Responses

PenCom Begins Verification Of 2,700 Retiring Workers

THE National Pension Commission (PenCom) has commenced verification and enrolment of over 2,700 employees of the Federal Government’s Ministries, Departments and Agencies (MDAs). Head, Corporate Communications, Peter Aghahowa, in a statement explained th...

July 30, 2018 No Responses

Pension Fund Assets Hit N8.14trillion

As at end of May, 2018, total pension fund assets stood at N8.14 trillion, the National Pension Commission (PenCom) has revealed. According to PenCom spokesman, Peter Aghahowa, the assets rose from N7.52 trillion in December 2017, adding that: ”The....

July 5, 2017 No Responses

NPA begins verification of pensioners July 17th in nine locations

The Nigerian Ports Authority (NPA) has concluded plans to conduct Physical and biometric verification of pensioners between July 17th and August 20th in nine locations nationwide. The exercise is scheduled to hold in Calabar, Warri, Owerri, Umuahia, Bay...

April 6, 2017 No Responses

FG clears N54b pension backlog

Concerned about the plight of pensioners who retired under the Contributory Pension Scheme without being paid, the Federal Government has cleared the inherited arrears of accrued pension benefit for the year 2014, 2015 and 2016 by releasing N41.5 billion to...