Tags: PenCom

NAICOM, PENCOM Sets To Issue New Rules On Annuity Operations

Commissioner for Insurance, Mohammed Kari Advertisement Both National Insurance Commission (NAICOM )and National Pension Commission (PenCom) are set to release the new modalities that they have being puting together documents of harmonization of pension and insurance regulatory operations over the months will regulate the provision of life annuity for retirees under the Contributory Pension Scheme. Amehnews recall…

PenCom says PFAs should fund pension protection fund by pay 3percent

The Director-General, PenCom, Mrs. Chinelo Anohu-Amazu   The National Pension Commission has ordered the Pension Fund Administrators(PFAs) to pay three per cent of their management fees into the pension protection fund. This, it was learnt, would aid the implementation of minimum pension for retirees under the Contributory Pension Scheme. Some of the operators, who disclosed…

N140bn annuity fund: Adeosun Directs both PenCom, NAICOM to issue a joint circular

Minister for Finance, Kemi Adeosun The Minister of Finance, Mrs. Kemi Adeosun, has brokered a resolution of the dispute between the National Pension Commission and the National Insurance Commission over a circular issued by PenCom directing life insurance companies to transfer their annuity asset holdings to Pension Fund Custodians (PFCs). The intervention of the minister…

Non-remittance: PenCom commends the efforts of Recovery  agents

DG, NPenCom, Mrs Chinelo Anohu-Amazu  The National Pension Commission (PenCom) has commended the effort of the recovering agent saying it has assisted the commission in recovering funds from defaulting firms. The commission noted that in 2012, when it discovered that several thousands of employers were not funding their workers’ Retiring Savings Account (RSAs), it employed…

PenCom Condemns State governments in contributions of Pension

 The National Pension Commission (PenCom) has expressed concerns about the poor attitude of many state governments to pension contribution. The commission was not happy, as only 10 out of the 36 states have commenced the remittance of contributions into the RSAs of their employees, while eight states have begun funding of their Retirement Benefit Bond…