PenCom Plans 75% Salary Pensions, Health Cover for Retired Police
By Oluwakemi Kindness The National Pension Commission (PenCom) has unveiled plans to raise police pensions to 75 per cent of an officer’s final salary before retirement and introduce a health insurance scheme for retired officers, as part of sweeping reforms to the Contributory Pension Scheme (CPS). PenCom’s Director General, Ms Omolola Oloworaran, disclosed the measures […]
Tinubu Orders Immediate Free Healthcare for Low-Income Retirees
By Oluwakemi Kindness President Bola Tinubu has ordered the immediate implementation of the free healthcare access programme for low-income retirees under the Contributory Pension Scheme (CPS). He describes it as a cornerstone of his administration’s social protection agenda and a vital step in safeguarding the dignity of senior citizens. The President also direct the prompt […]
Kogi Set to Transit to Contributory Pension Scheme — PENCOM Boss
By Chinedu Echianu Kogi State Pension Commission (PENCOM) says it is concluding plans to migrate from the Defined Benefits Scheme to the Contributory Pension Scheme (CPS) with full implementation expected to begin next year. The Director General of the Commission, Hajia Mariam Abedo disclosed this during an official engagement with the Special Adviser on Media […]
CPS Retirees to Benefit from ₦30bn Gratuity Plan
By Oluwakemi Kindness The National Pension Commission (PenCom), in collaboration with the Office of the Head of the Civil Service of the Federation (OHCSF), is set to introduce a ₦30 billion annual gratuity scheme for retiring civil servants under the Contributory Pension Scheme (CPS).” Director General of PenCom, Omolola Oloworaran, stated this during a courtesy […]
Court Warns Employers: No Room for Pension Defaults
By Oluwakemi Kindness The National Industrial Court says employers who fail to remit or under-remit pension contributions are strictly liable under the Nigerian law. This is according to Justice Olufunke Yemi Anuwe of the National Industrial Court who notes that such employers could face limited legal defenses when such matters are brought before the courts. […]
PenCom Tasks Fund Operators’ Vendors to Enforce PRA 2014
By Oluwakemi Kindness The National Pension Commission (PenCom) has issued a new directive to all Licensed Pension Fund Operators (LPFOs), comprising Pension Fund Administrators PFAs) and Pension Fund Custodians (PFCs). The directive prohibits transacting with service providers and vendors that do not remit pensions for their employees as evidenced by a Pension Clearance Certificate issued […]
PenCom Urges Lagos Governor to Ensure Equitable Pension Increases
By Oluwakemi Kindness The National Pension Commission (PenCom) has urged Lagos state Governor, Sanwo-Olu to extend periodic pension increases given to retirees under the Defined Benefit Scheme (DBS) to those under the Contributory Pension Scheme (CPS) to improve their monthly payments. The Director General, PenCom, Omolola Oloworaran, made the request during a courtesy visit to […]
PenCom To Recover N1.3bn Unpaid Pension Contributions from Newspaper Organisations
By Oluwakemi Kindness The National Pension Commission (PenCom) says newspaper organisations are owing over ₦1.3 billion in unpaid pension contributions for journalists. This is disclosed by the Director General of PenCom, Omolola Oloworaran, when she led a delegation to the Nigerian Press Council in Abuja. A statement by the commission says Oloworaran expressed concerns over […]
PenCom, NERC Crack Down on GENCOs, DISCOs Over Pension Arrears
By Oluwakemi Kindness The National Pension Commission (PenCom) has sought the intervention of the Nigerian Electricity Regulatory Commission (NERC) to compel electricity Generation Companies (GENCOs) and Distribution Companies (DISCOs) to remit outstanding pension contributions owed to their employees. PenCom’s Director General, Ms. Omolola Oloworaran, stated this when she led a delegation to seek NERC’s intervention […]
Ondo State to Explore Pension Funds For Infrastructural Development
By Oluwakemi Kindness Ondo State government says it is exploring opportunities to leverage pension funds for infrastructural development in the state. Governor Lucky Aiyedatiwa, made this known when he received a delegation from the National Pension Commission (PenCom) led by the Director General, Omolola Oloworaran in Akure. A statement by the Commission on Thursday says […]