TwentyTenDaily

Tag: Pencom

  • 25,645 Workers Move N102.59bn To Other Operators

    25,645 Workers Move N102.59bn To Other Operators

    No fewer than 25,645 workers have transferred N102.59billion  in their Retirement Savings Accounts to other Pension Fund Administrators. This move is coming after a displeasure with their Pension Fund Administrators operations. The National Pension Commission disclosed this in a presentation titled ‘Understanding the RSA transfer process’. According to the presentation, 2,799, 12,681 and 10,165 workers…

  • PenCom Recovers N608m Pension Liabilities From Defaulters

    PenCom Recovers N608m Pension Liabilities From Defaulters

    The National Pension Commission says it has recovered N608.5 million from employers who deducted monthly pensions of their workers. However, it mentioned that these employers did not remit to their retirement savings accounts with their respective pension fund administrators. According to the 2021 first quarter report released by the commission,  the amount consists of N162.3…

  • PenCom: Over 2,000 Workers Withdrew N3.18bn From Voluntary Pension

    PenCom: Over 2,000 Workers Withdrew N3.18bn From Voluntary Pension

    After making additional voluntary contributions, a total of N3.18bn was withdrawn by 2,210 workers from their Retirement Savings Accounts with their respective Pension Fund Administrators in six months. While 1,286 active contributors withdrew N2.17bn in the third quarter of 2020, another 924 contributors withdrew N1.01bn in the fourth quarter of 2020. The National Pension Commission…

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

    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…

  • PenCom: FG Yet To Comply With Pension Contribution

    PenCom: FG Yet To Comply With Pension Contribution

      The National Pension Commission has revealed that the Federal Government is yet to comply with some statutory rate and increase of the pension contribution. PenCom said the Federal government is yet to agree with the new minimum statutory rate of pension contribution of 18 percent since 2014. Also, it was yet to pay approved…

  • PenCom Recovers N553.03 Million From Defaulters

    PenCom Recovers N553.03 Million From Defaulters

    The National Pension Commission has said it recovered ₦553.03 million from defaulting employers who deducted their workers monthly emoluments but failed to remit to their Retirement Savings Accounts with their respe ctive pension fund administrators. PenCom disclosed this in its monthly report for the fourth quarter of 2020 saying that out of this amount, the…

  • In Six Years, Over Hundred Thousand Retirees Withdraw N29.26bn

    In Six Years, Over Hundred Thousand Retirees Withdraw N29.26bn

    According to information obtained from the National Pension Commission, in six years, a total of 118,044 retirees have withdrawn N29.26bn from their Retirement Savings Accounts. These retirees have left the Contributory Pension Scheme because they had low balances in their accounts which could not be utilised as monthly stipends. The affected retirees were those that…