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Month: August 2022

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Employers’ Checklist on Pension Remittances

The Pension Reform Act (PRA) 2014 mandates employers of labour in the private and public sector (except for the few exempted ones) to join the Contributory Pension Scheme (CPS) where…

Pension Fund under CPS hits N14.27 trillion in June 2022

According to the National Pension Commission (PenCom) the value of pension fund assets as of June 2022 is N14.27 trillion as the number of contributors under the scheme hits 9,795,957…

En-bloc Payment: Retirees with pension less than a third of the Minimum wage get full En-bloc payment

Retirement Savings Account (RSA) balances can now be withdrawn en-bloc by retirees who are eligible for a monthly pension of less than N10,000, which is a third of the current…

Lagos pays N43b to 11,644 retirees, updates Employer Employee contribution rate

Mrs. Ajibola Ponle, the commissioner for establishments, training, and pensions for the state of Lagos, revealed that from May 2019 until now, the Lagos State Pension Commission (LASPEC) had paid…

Nigeria’s Pension assets can help close the infrastructure deficit funding gap – Report

By allocating its $33.4 billion in pension assets to infrastructural funding, Nigeria may be able to close its $100 billion annual infrastructure gap. According to a recent report by Coronation…

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