Pension Archives - Business Journal

Aisha Dahir-Umar Director-General National Pension Commission (PenCom) Preliminary data for 2020 shows that pension funds held over $35 trillion of assets worldwide at end-2020, exceeding 2019 levels despite the headwinds due to COVID-19, according to Pension Funds in Figures. Pension fund assets grew by nearly nine percent in the OECD area to reach $34.2 trillion

The National Pension Commission (PenCom) has developed an online application which automates the Annual Pre-Retirement Verification and Enrolment Exercise for retirees/ prospective retirees of Treasury-funded Federal Government MDAs. Accordingly, the online Enrolment Application would go live on 1st September, 2021. Who is eligible for the 2021 Verification and Enrolment exercise? The following groups of people

           Introducing the Enrolment Application The National Pension Commission (PenCom) has developed an online application which will automate the Annual Pre-Retirement Verification and Enrolment Exercise. The Application has the capabilities to register, verify and enrol prospective retirees of Treasury-funded Federal Government MDAs.  Accordingly, the online Enrolment Application would be hosted on PenCom website www.pencom.gov.ng

The National Pension Commission (PenCom) has informed all its stakeholders, particularly retirees of Treasury-funded Federal Ministries, Departments and Agencies (MDAs), that President Muhammadu Buhari has approved PenCom’s submission on the payment of some critical aspects of the outstanding pension liabilities of the Federal Government under the Contributory Pension Scheme. Specifically, the President has approved: Payment

It was a day long awaited, when the National Pension Commission opened the Retirement Savings Account (RSA) Transfer Window. The launching of the RSA Transfer System (RTS) on 16 November 2020 heralded the full implementation of one of the cardinal features of the Contributory Pension Scheme (CPS), the portability of RSAs. By this development, RSA

The pension industry in Nigeria has evolved over the years and introduction of the Transfer Window, which allows pension contributors to switch from one pension fund administrator (PFA) to another has been the talk of the town since November 2020 when it was officially declared open by the National Pension Commission (PenCom). Recently, Stanbic IBTC

Following the launch of the pension transfer window by the National Pension Commission (PenCom) recently, over 2, 100 Retirement Savings Account (RSA) holders have applied to move their pension accounts from their current Pension Fund Administrators (PFAs) to a new one. Making the disclosure at the virtual 2020 Pension Fund Operators Association of Nigeria (PenOp)

Secretary to the Government of the Federation (SGF), Mr. Boss Mustapha; Chairman, Board of National Pension Commission, Mr. Oluremi Oni; Director-General of National Pension Commission (PenCom), Mrs. Aisha Dahir-Umar (middle), flanked by members of the Board of the National Pension Commission, at their inauguration, at Transcorp Hilton, Abuja, on 3rd December 2020.

Nigerian leading pension services provider, Stanbic IBTC Pension Managers, a subsidiary of Stanbic IBTC Holdings PLC, has said that the commencement of the Transfer Window programme is a positive development that democratises pension fund management in the country and gives pension fund contributors the freedom to choose their preferred pension fund administrator. The Transfer Window,

The National Pension Commission (the Commission) wishes to inform all stakeholders and the general public, especially Retirement Savings Account (RSA) holders under the Contributory Pension Scheme, that the Commission has concluded arrangements for the take-off of RSA Transfers. Accordingly, RSA holders may transfer their accounts from one Pension Fund Administrator (PFA) to another once in

Section 13 of the Pension Reform Act, 2014 allows Contributors to move their Retirement Savings Account (RSA) through a transfer window from one Pension Fund Administrator (PFA) to another, provided that it is not more than once in a year. The National Pension Commission has being working assiduously to actualise the provisions of Section 13

  Today, Allianz unveiled the first edition of its “Global Pension Report”, taking the pulse of pension systems around the world with its proprietary pension indicator, the Allianz Pension Indicator (API). The indicator follows a simple logic: It starts the analysis with the demographic and fiscal prerequisites and then continues to examine pension systems along

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