Tags : Contributory Pension scheme

Withdrawals From Pension Savings Rise 17%

Cash withdrawals by workers from their pension contributions jumped by 17.5 percent to N6.65 billion in the second quarter of 2022, Q2 ’22. This is an increase from N5.66 billion recorded in the corresponding period of 2021. According to the report released by the National Pension Commission, PenCom, the number of sacked workers that withdrew […]Read More

Micro Pension Plan Records Over 33% Growth In Q1′ 22

According to the First Quarter 2022 report released by the National Pension Commission, a total of 2,897 new contributors were enrolled into the Contributory Pension Scheme, under its micro pension scheme. This indicates a 33.7 percent Quarter-on-Quarter, QoQ, increase against 2,166 recorded in the previous quarter, Q4’21. With the new enrolments, PenCom, a total number […]Read More

Contributory Pension Gains N640bn In Four Months

According to figures from the National Pension Commission, the total assets under the Contributory Pension Scheme rose by N640 billion in four months to N14.06tn in April. This was contained in the National Pension Commission’s latest report titled, ‘Unaudited report on pension funds industry portfolio for the period ended 30 April 2022; Approved Existing Schemes, […]Read More

Contributory Pension Assets Rise By N340bn

The total assets under the Contributory Pension Scheme gained N340bn in two months and rose to N13.76tn as of the end of February 2021. The funds, which ended December 31, 2021 at N13.42tn, rose to N13.61tn as of the end of January 2022. This was contained in the National Pension Commission’s latest report, titled ‘Unaudited […]Read More

N2.55bn Unremitted Pensions Recovered In 2021

Data obtained from the National Pension Commission has shown that the commission  recovered N2.55bn pensions deducted by employers from employees’ monthly emoluments in 2021 but not remitted to the Retirement Savings Accounts with their respective Pension Fund Administrators. In the latest PenCom’s latest quarterly report,the recovery included unremitted contributions and sanctions, as the commision disclosed […]Read More

Contributory Pension Assets Hit N13.42tn

National Pension Commission Pension has revealed that assets under the Contributory Pension Scheme rose by N1.11tn in 2021. According to the latest figures obtained from PenCom, in its unaudited reports on pension funds industry portfolio, said the pension assets rose to N13.42tn on December 31, 2021 from N12.31tn at the end of 2020. The reports […]Read More

Contributory Pension Assets Rise To N12.9tn

Data obtained from the National Pension Commission has shown that the assets under the Contributory Pension Scheme rose by N120bn in August 2021. PenCom, in its latest unaudited report on pension funds industry portfolio said the assets rose from N12.78tn at the end of July to N12.9tn in August. PenCom also revealed that the total […]Read More

PenCom: Over 9,000,000 Workers Have Pension Accounts

The total number of workers with pension accounts under the Contributory Pension Scheme rose slightly to 9,265,141 as of the end of February 2021. Figures obtained from the National Pension Commission on its February monthly report on Friday said the cumulative Retirement Savings Account registrations grew from the 9,147,039 recorded in Q3, 2020 to 9,215,788 […]Read More

Pension Assets Drops, Losses N52billion

The Contributory Pension Scheme has continued its downward trend lossing N52billion in February 2021. Figures obtained from the National Pension Commission on its report titled ‘unaudited report on pension funds industry portfolio for the period ended 28 February 2021’ revealed this. The report showed figures on Approved Existing Schemes, Closed Pension Fund Administrators and RSA […]Read More