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The Pension Funds Administrators, PFAs, invested N8.14tn of the total assets under the Contributory Pension Scheme in the Federal Government’s securities as of the end of November. The National Pension Commission (PENCOM) disclosed this in its unaudited report on pension fund portfolio, which was obtained by Biz Watch Nigeria on Friday. This amount represented 66.23 per cent of the total pension fund available on the contributory pension scheme. According to the report, the total funds under the CPS stood at N12.29tn during the period under review. Out of the Federal Government securities, N7.38tn was invested in FGN bonds; N642.0bn in treasury bills; N6.3bn in agency bonds (NMRC & FMBN); N100.07bn in sukuk bonds; and N11.81bn in green bonds. ....
FG releases N11.8bn pension for MDA retirees, 10 months arrears still outstanding On By Rosemary Iwunze The Federal Government, yesterday, released the sum of N11.82 billion for payment of accrued rights for retirees of treasury funded Ministries, Departments & Agencies (MDAs) under the Contributory Pension Scheme (CPS). Accrued rights represent benefits for employees of Treasury Funded MDAs who worked up to June 2004, before the Pension Reform Act that gave birth to the CPS was introduced. However, Vanguard investigation shows that the amount will cover only two months arrears of January and February 2020. This is because the last payment for accrued rights was for December 2019. In essence, a backlog of ten months arrears is still outstanding. ....
Punch Newspapers Sections Nike Popoola The Federal Government has released N11.82bn for payment of accrued rights of retirees of treasury funded Ministries, Departments and Agencies under the Contributory Pension Scheme. The Head, Corporate Communications Department, National Pension Commission, Peter Aghahowa, disclosed this in a mail sent to our correspondent on Wednesday. He stated, “The sum of N11.82bn has been released by the Federal Government for payment of accrued rights. “Accrued rights represent benefits for employees of treasury funded MDAs who worked up to June 2004, when the Pension Reform Act was introduced. Read Also “The commission appreciates the effort of the Federal Government at ensuring that the accrued rights arrears are cleared.” ....
The options according to Aghahowa are: self-assisted or the Pension Fund Administrator (PFA)-assisted options. He explained that the self-assisted option entails a prospective retiree scanning original copies of all relevant documents required for the exercise and uploading them to the enrolment web portal located on the commission’s website, www.pencom.gov.ng . “The retiree is expected to visit his or her PFA for the verification and validation of the submitted documents after carrying out the processes. “If a prospective retiree chooses the PFA-assisted option, he or she is required to initiate and conclude the verification/enrolment process by visiting his or her PFA. ....
Translate Home » Business » Insurance and You » Transfer Window: Over 2,100 change PFAs over poor services Transfer Window: Over 2,100 change PFAs over poor services On By Rosemary Onuoha Following the launch of the pension transfer window by the National Pension Commission (PenCom) recently, over 2, 100 Retirement Savings Account (RSA) holders have applied to move their pension accounts from their current Pension Fund Administrators (PFAs) to a new one. Head, ICT, PenCom, Mr. Polycarp Anyanwu, made the disclosure at the virtual 2020 Pension Fund Operators Association of Nigeria (PenOp) media retreat for pension correspondents. Anyanwu said over 2,100 applications were submitted and received by the Commission between November 16 and 30. ....