PenCom cautions Pension Contributors, Pensioners against kickbacks

By Aliyu DANLADI The National Pension Commission (PenCom) on Saturday urged pensioners and pension contributors not to give any inducement to facilitate the payment of their retirement benefits and issuance of Compliance Certificates. A statement signed by the Acting Director-General of PenCom, Mrs Aisha Dahir-Umar, in Abuja said the warning was to prevent pensioners and pension contributors from being duped. The commission said pensioners and pension contributors should hint it about anyone who demands bribe or any form of inducement in whatever form from them PenCom said it was dedicated…

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Pensioners want FG to intervene in electricity union crisis

By Meletus EZE The Nigeria Union of Pensioners (NUP), Electricity sector, has urged the Federal Government to intervene in the ongoing leadership crisis within the union to forestall a major crisis in the electricity sector. Chairman of NUP, Mr Idi Bawa, made the call when the union members staged a protest to kick against plans to establish a parallel leadership of the union on Thursday in Abuja. Bawa, therefore, said the Minister of Labour and Employment, Dr Chris Ngige, must shun the temptation of registering a parallel union of electricity…

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PenCom to enrol 2,700 FG retirees from FCT, Niger

By Aliyu DANLADI The National Pension Commission (PenCom) has said no fewer than 2,700 Federal employees from FCT and Niger due to retire in 2019 have commenced their verification and enrollment in its Abuja centre. The PenCom Head of Corporate Communications, Mr Peter Aghahowa, said in Abuja on Monday that the Abuja centre was part of phase II of the nationwide verification and enrollment programme. He said the phase II of the enrollment was ongoing in two other centres of Lagos and Ibadan, adding that phase one had been concluded…

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LASG offsets pension obligations with N2bn in 3 months

By Giwa SHILE The Lagos State Government said it has released over N2 billion to off-set its pensioners’ obligation under the Contributory Pension Scheme (CPS) in the last three months. The Director-General, Lagos State Pension Commission (LASPEC), Mrs Folashade Onanuga, said that the figure represented pension monies released for the months of May, June and July. According to her, N859 million was released for the retirees in May, N716.951 million in June and N466.85 million in July, totalling N2.042.86 billion. The director-general said N38 billion had so far been released…

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PENCOM enrols retiring FG employees in Lagos, Ogun

By Thompson ABISOLA The National Pension Commission (PenCom), on Monday commenced the verification and enrolment exercise of 3,000 employees of Federal Government Ministries, Departments and Agencies (MDAs) in Ogun and Lagos State. Head, Corporate Communications Department of PenCom, Mr Peter Aghahowa, said the exercise was meant for employees due to retire between Jan. and Dec., 2019 who had attained the age of 60 or 35 years in service. He said others included in the exercise were employees of tertiary institutions who had served for 35 years or had attained 70…

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Pension fund assets hit N8.14tr — PenCom

By Giwa SHILE The National Pension Commission (PenCom) said the total pension fund assets stood at N8.14 trillion as at May, 2018. PenCom in a statement signed by its spokesman, Mr Peter Aghahowa, on Sunday said  the assets rose from N7.52 trillion in December 2017, to N8.14 trillion in May 2018. The Commission said: “The pension assets as at December 2017 stood at N7.52tn, it moved up to N7.8 trillion as at February and soared to N7.94 trillion in March, then to N8.14 trillion in May.” It also posited that…

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PTAD pays 5,382 newly enrolled pensioners N1.7bn outstanding arrears

By Thompson ABISOLA The Pension Transitional Arrangement Directorate (PTAD) said N1.7 billion outstanding pension arrears were paid to 5,382 civil service pensioners in June. A statement by the PTAD in Abuja on Monday indicated that the pensioners were among the 7,969 civil service pensioners enrolled on PTAD’s monthly payroll in March. PTAD said the total monthly payment of the pensioners was N71.5 million. The directorate said it had also adjusted the monthly pension payments for 10,522 pensioners to reflect their correctly computed monthly pension based on their employment records. According…

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PTAD concludes computation of pension benefits of 3,542 Delta Steel pensioners

By Kunle SHONUGA The Pension Transitional Arrangement Directorate (PTAD) has concluded the computation of pension benefits for 3,542 Delta Steel Company (DCS) pensioners. A statement by management of PTAD on Monday in Abuja said the successful computation of the benefits for the DSC pensioners became possible 13 years after Federal Government privatised the company in February 2005. According to the statement, the Executive Secretary, of PTAD, Ms Sharon Ikeazor along with her management team had paid a visit to Aladja, in Warri Delta State on March 2017 to meet with…

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Stanbic IBTC hails PenCom as multi-fund investment structure begins

By Meletus EZE The Chief Executive Officer, Stanbic IBTC Pension Managers Limited, Mr Eric Fajeminsi,has said the multi-fund investment structure for workers will protect and improve the investment performance of Nigeria’s N7.8 trillion pension assets. In a statement on Sunday in Lagos, Fajeminsi noted that the new structure superseded the previous “one-size-fits-all” investment structure. He commended the National Pension Commission (PenCom) for evolving the multi-fund investment structure. The IBTC Pension boss said that the structure which started on Sunday would resolve the challenge of asset-liability risks faced by the pension…

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PENCOM assures retirees of better service delivery

By Thompson AbISOLA The National Pension Commission (PENCOM) said it remains committed to ensuring better service delivery to retirees. The PENCOM’s Head of Corporate Communications, Mr Peter Aghaowa, gave the assurance on Monday in Benin while speaking on the side lines  of the verification and enrolment exercise for the  2019 pre-retirement documentation. He said the commission was also committed to ensuring that  all  eligible  retirees across the country in 2019  were documented ahead of  the disbursement of their pensions and gratuity. Aghaowa, however,  advised all the prospective retirees to avail…

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