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  • September 16, 2021

Nigeria's No. 1 pension information website

Pension Assets now N12.78 Trillion, Increased by 13% YoY in July 2021

*RSA Fund II remains the biggest Fund with N5.59 trillion followed by RSA Fund III with N3.35 trillion representing 43.8% and 26.23% respectively According to PenCom’s latest monthly report, the…

UPDATE: Step-by-Step process of the Online Enrolment Exercise (Self Registration)

The National Pension Commission (PenCom) has released the step-by-step procedures on the ongoing online enrolment exercise for 2021 retirees and protective retirees. See the step-by-step procedures for the online enrolment…

Online Verification and Enrolment Exercise for 2021 retirees/prospective retirees will commence on 1st September 2021

The National Pension Commission (PenCom) has released a notice on the commencement of online verification and enrolment exercise for 2021 prospective retirees and retirees of the Federal Government Treasury Funded…

Pension Union task Lagos State Government on implementation of consequential wage increase

The Lagos State council of the Nigeria Union of Pensioners (NUP) has charged the Lagos State governor, Mr. Babajide Sanwo-Olu, to ensure the implementation and payment of arrears of consequential…

Next-of-Kin (NOK): Myths and Realities

The term Next-of-Kin (NOK) is a common term used on a daily especially when it has to do with pensions and retirement claims. To many, this term has a different…

No pensioner will suffer deprivation, PTAD vows

Dr. Chioma Ejikeme, Executive Secretary of the Pension Transitional Arrangement Directorate (PTAD), has stated that the agency will not allow any pensioner to suffer deprivation after giving their all in…

Lagos based Awabah, a digital Micro Pension platform, gets accepted into Techstars London Accelerator program

Lagos-based Awabah, a digital platform that gives African self-employed people access to pensions, has been accepted into the Techstars London accelerator program.

Experts seek the promotion of the Micro Pension Plan

Takor Ivor, Director of the Centre for Pension Rights Advocacy, has advocated for the inclusion of micro-pension in the ecosystem. He tasked the National Pension Commission (PenCom) and operators with…

PenCom to revise pension fund investment profile in FGN securities

The National Pension Commission (PenCom) is revising the 70% profile of pension fund investments in Federal Government of Nigeria (FGN) securities. The Commission is determined to revise the 70% uptake…

Pension Union seeks increment in pension and other benefits

The Contributory Pensioners Union of Nigeria (CPUN), Southwest Zone, has petitioned the National Pension Commission (PenCom) to pay their members’ benefits, which include a 15% and 33% increase in pension.They…

The Implications of Buhari’s Approval of N123.13 Billion for Accrued Pension Rights and Other Issues

For some time, the federal government’s outstanding pension liabilities posed a significant challenge to the implementation of the Contributory Pension Scheme (CPS), until President Muhammadu Buhari recently approved N123.133 billion…

Nigeria’s Contributory Pension Asset to hit ₦20trn by 2023 – Agusto & Co

The Nigerian Pension Industry (‘the Industry’) has evolved from a defined benefit scheme with primarily public sector participants to a mandatory defined contribution system for all government and private sector…

PenCom releases Framework for Enlightenment and Public Awareness for The Micro Pension Plan

Following the Guidelines for the Micro Pension Plan (MPP) publication, the National Pension Commission (the Commission) identified the need for sustained public education to raise awareness and acceptability of the…

Lagos HOA slashes former governor’s pension by 50%, stops provision of houses in Abuja and Lagos

The Lagos State House of Assembly approved the report of its establishment committee on Thursday, which recommended a 50% reduction in pensions for former governors and other affected officials. The…

Online Verification Exercise of Retirees to begin on August 2

The National Pension Commission (PenCom) has announced plans to launch a pilot scheme of its online pre-retirement verification and enrolment process for retirees in the country’s government ministries, departments, and…

5 Tips on having a wonderful life at retirement

You don't have to earn a fortune to life a wonderful life when you eventually retire. Here are 5 tips to help you have a wonderful life at retirement.

Types Of Retirement Under the CPS

There are different ways an employee can retire under the Contributory Pension Scheme (CPS). When an employee retires, he or she will have access to either a part of or…

Accessing Temporary Retirement Benefits Under the Contributory Pension Scheme (CPS)

The Contributory Pension Scheme (CPS) provides for RSA holders to assess part of their retirement benefits on some grounds before retirement and due qualification for lifetime pension payments.

Pension operator reveals plan to protect Pension Funds from Naira devaluation

Stanbic IBTC Pension Managers Limited, Nigeria’s largest pension fund administrator, has announced that a framework would be put in place soon to protect and grow pension funds by investing a…

Lagos is blazing the trail when it comes to settling pensioners

Through various means, the Lagos State Government has made conscious efforts to prioritize and see to the welfare of retirees in the state. Despite the revenue shortfall caused by COVID-19,…

The EFCC on preventing pension fraud, to sensitize pension stakeholders

From October 5 to 6, the Economic and Financial Crimes Commission (EFCC), in collaboration with pension industry stakeholders, will hold a two-day sensitization workshop in Abuja on “Eradication of Pension…

Federal Retirees plead with FG to mandate PTAD to pay outstanding benefits

The Association of Retired Federal Senior Public Officers of Nigeria (ARFESPON) has urged the federal government to compel the Pension Transitional Arrangement Directorate (PTAD) to pay the difference between the…

Unemployment affects the growth potential of Nigeria’s pension industry

Unemployment is the primary cause of Nigeria’s low participation rate. Pension participation is, in general, a function of income, which is reliant on employment. So it comes down to the…

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