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Rapid Increase in RSA Holder Transfers Recorded in 2023: PenCom

The National Pension Commission (PenCom) has reported a significant surge in Retirement Savings Account (RSA) holder transfers between Pension Fund Administrators (PFAs). According to the commission’s November report, a total…

PenCom’s Milestones in 2023: A Year of Achievements and Innovations

Overview: PenCom, Nigeria’s apex regulatory authority for the pension industry, marked a transformative year in 2023. Demonstrating an unwavering commitment to effective oversight and innovation, PenCom implemented several initiatives that…

Retirees can receive up to 50% of RSA Balance as LumpSum at retirement – PenCom

Lagos, Nigeria – In a recent interactive session on the Contributory Pension Scheme (CPS) for the Organised Private Sector, the National Pension Commission (PenCom) revealed an exciting development for retirees…

PenCom Cracks Down on Employers with Incomplete Pension Documentation

The National Pension Commission (PenCom) has issued a stern warning to employers failing to provide complete documentation for their employees’ pension contributions. In a press release, PenCom revealed that some…

Employers’ Checklist Under the Contributory Pension Scheme (CPS)

The Pension Reform Act (PRA) of 2014 established a ground-breaking rule for employers in the private and public sectors in an effort to safeguard the financial security of employees at…

Data Recapture: PenCom stops recapturing agents as contract expires

The National Pension Commission (PenCom) has announced the discontinuation of data recapture exercises by the two authorized agents, effective May 30, 2023. In a press release issued today, the pension…

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