Programmed Withdrawal News Today

They settled new retirees within three months, but now, the pension companies will say the government has not released funds

Nigeria’s Contributory Pension Scheme introduced by the Pension Reform Act is an arrangement where both the employer and the employee contri

In December 2022, the National Pension Commission (PenCom) announced that the third edition of pension enhancement under the Contributory Pension Scheme (CPS)

Under Aisha Dahir-Umar, PenCom has ensured that investment of the pension fund are wisely and cautiously done with eyes on returns.

In 2020, the National Pension Commission (PenCom) and the National Insurance Commission (NAICOM) co-published a guide on contributory...

The Nigerian Pension Industry: A journey with definite destination 2 On By Godwin Onoro, Pension Expert In the last publication, a clear path for this awesome and beneficial journey was provided. Being a journey, it is natural that participants would commence theirs at different times. Whilst some participants would have arrived, the retirees and the deceased in this instance, the journey continues for those who are still in employment. For others, students, those waiting to secure employment ...

Punch Newspapers Sections Nike Popoola Nike Popoola Published 12:14 am  The National Pension Commission refunded N848.92m to 3,499 retirees under the Contributory Pension Scheme and allowed them to leave the system due to low balances in their Retirement Savings Accounts in the fourth quarter of 2020. Figures obtained from PenCom’s report on ‘Enbloc payment of retirement benefits’ for the fourth quarter revealed this on Tuesday. According to the report, the concerned retirees did not h...

Vanguard News The Nigerian Pension Industry – A journey with definite destination (2) On   In the last edition of this series, a clear path for this awesome and beneficial journey was provided. Being a journey, it is natural that participants would commence theirs at different times. Whilst some participants would have arrived, the retirees and the deceased in this instance, the journey continues for those who are still in employment. For others, students, those waiting to secure employment...

    Globally, matters pertaining to taking care of retired and aged citizens are of great concern to government. The concerns bother majorly on the non-availability of funds to pay the aged citizens who worked for the government, resulting in huge pension liabilities. The schemes in Nigeria prior to the commencement of the Pension reform were Pay As You Go and Defined Benefit in the public sector and Provident Fund/Nigeria Social Insurance Trust Fund (NSITF) for the private sector. Whilst a f...