Pension Archives - Business Journal

Investors including pension funds and asset managers in the United Kingdom have launched a £1 billion ($1.2 billion) lawsuit against five banks for losses related to a foreign exchange cartel, Morningstar reported. The banks including U.K.-based Barclays P.L.C., U.S.-based Citibank N.A. and Royal Bank of Scotland Group P.L.C. have admitted their participation in the cartel.

Costa Rica: The No. 1 place to retire! The world’s largest retirement funds recorded double-digit growth in 2017, with the latest survey by Pensions & Investments and the Thinking Ahead Institute showing assets of the 300 largest retirement funds growing 15.1% to hit $18.1 trillion. By comparison, assets grew 6.1% in 2016. And as global equity markets

The Pension Fund Operators Association of Nigeria (PenOp) has warned that pension assets in the country currently valued at N6.5 trillion could be at risk if multiple bills on the pension system at the National Assembly become law. PenOP President, Eguarekhide Longe said prominent among the Bills, include one sponsored by Hon. Oluwole Oke on

The National Pension Commission (PenCom) says employees of federal ministries, departments and agencies who retired between January and August 2016 can now commence the process of collecting their retirement benefits through their Pension Fund Administrators (PFAs) as their accrued benefits have been credited to their Retirement Savings Accounts (RSAs). A statement signed by Mr. Emeka

Kwara State is fully up to date with payment of pension and salaries to its pensioners and workers despite the economic situation in the country. The Senior Special Assistant on Media and Communication to Kwara State Governor, Dr. Muyideen Oluwafemi Akorede, said the governor was able to achieve this through intense reform of Internally Generated

Looking for Innovation in Pension African countries now have the platform to showcase their achievements in pensions! The ‘Africa Pension Awards’ has been introduced to stimulate innovative practices in the administration of pension and social security amongst African countries by recognising excellence, achievements and commitment to the development of pensions and social security in Africa.

African countries now have the platform to showcase their achievements in pensions! The ‘Africa Pension Awards’ has been introduced to stimulate innovative practices in the administration of pension and social security amongst African countries by recognising excellence, achievements and commitment to the development of pensions and social security in Africa. This event will create the

Nigerian pension assets have hit all-time high of N5.3 trillion at the end of December 2015, according to Mrs. Chinelo Anohu-Amazu, Director-General, National Pension Commission [PenCom]. She said the sum of N20 billion was outstanding in 2015 in respect of retired workers in the federal civil service. The PenCom DG said the commission requested for

As the new Contributory Pension Scheme (CPS) continues to celebrate its runaway successes, Mrs. Chinelo Anohu-Amazu, Director General, National Pension Commission (PenCom) speaks on the challenges of the scheme and the way forward.

Review of Pension Industry in 2014

The activities in the Pension Industry were guided by the need to ensure sustainability and safety of pension funds as well as payment of retirement benefits. In the course of the year, and in line with the dynamics of the operating environment, some of the supervisory and regulatory frameworks were modified.

According to a study released by the TIAA-CREF Institute and Independent Sector, about 45 percent of all employees in the non-profit sector are not confident with their ability to prepare financially for retirement. The findings underscore the need for the nonprofit and philanthropic sector to address their employees’ long-term financial security, create more opportunities for

­AT&T has announced that it is taking a US$10 billion charge related to its pension costs. The company said that the non-cash charge follows a decision to lower its assumed discount rate to 4.3%, resulting in an actuarial loss of approximately $12 billion.

Sixty-one key cities across America have emerged from the Great Recession with a gap of more than $217 billion between what they had promised their workers in pensions and retiree health care and what they had saved to pay that bill, according to a report released by The Pew Charitable Trusts.

For years, the controversy raged at the National Assembly, legion of human rights activist and ordinary Nigerians in the streets. Some said yes they deserve state pension for their service while in office even though they were not elected into office. For others, no state pension should be paid to the past military leaders because