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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…
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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…
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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…