Tag
PENCOM
news and analysis about pencom
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a report disclosed that a total 109,284 retired workers had quit the Contributory Pension Scheme, with N27.09 billion withdrawn.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.
Pension contributions in Nigeria rose by N169.9 billion in the second quarter of 2019 to push the aggregate total contributions to N5.45 trillion.
Pension fund administrators pile up cash in anticipation of withdrawals
Pension plan participation among Nigerians increases as evidence from available data from the National Pension Commission shows that 108,259 more people registered to participate in pension funds in the months of April and May 2019.
Pension fund assets in Nigeria increased by N186.43 billion in the first quarter of 2019 to push the total pension assets to N9.03 trillion. This is according to the latest report released by PenCom [@PensionNigeria]
The National Pension Commission (PENCOM) said it has concluded plans to begin verification of prospective retirees across some states in Nigeria.
The way different people perceive and interpret the involvement of pension funds with financial products issued by the Federal Government has always been a battle of semantics or nomenclature.