Tag
PENCOM
news and analysis about pencom
Pension Contributors on the receiving end as devaluation and high inflation rate wipe out what's left of their returns
The Nigerian equities market has rallied strongly, with blue chips outperforming, and the all-share index up by 9.2% since the CBN's OMO ban.
A few weeks ago, many news media organizations published articles on the plan by FGN to borrow a whopping N2 trillion from the pension funds.
PenCom has directed that from March 2020, companies with no insurance covers for their staff, would not be allowed to do any government business.
The National Pension Commission (PenCom) is in talks with the Debt Management Office (DMO) to offer pension bonds on behalf of FG.
PenCom is taking steps to raise pension bonds through the Debt Management Office (DMO) to offset the pension arrears of the federal retirees.
The Director-General of the National Pension Commission (PenCom), Aisha Umar-Dahir, has spoken about how the operating environment for Pension Funds Administrators (PFAs) was made difficult in 2019
The persistent depreciation in the value of the Naira has eroded the value of Nigeria’s pension funds assets by as much as 100% between 2012 and 2019. In the meantime, inflation continues to be a major problem.
The Acting DG of PenCom, Aisha Dahir-Umar has been queried by the House of Representatives for the handling of the finances of the commission.
The FGN has been urged by the PenOp and the National Assembly, to constitute a board for the National Pension Commission (PenCom).
PenCom in a report disclosed that a total 109,284 retired workers had quit the Contributory Pension Scheme, with N27.09 billion withdrawn.
PenCom has called for thorough scrutiny of all cases reported to PFAs about dead RSA holders before making payment to the beneficiaries.