PenCom Set for Infrastructure Fund Rollout, Tightens Compliance
By Oluwakemi Kindness The National Pension Commission (PenCom) says the proposed Pension Industry Infrastructure Fund has reached an advanced stage of implementation as it moves to expand healthcare access for retirees and strengthen enforcement of pension compliance. Director-General of PenCom, Omolola Oloworaran, disclosed this on Tuesday in Abuja after the third Pension Industry Leadership Meeting, […]
PFAs Roll Out PENCAP for RSA Data Recapture
By Oluwakemi Kindness Pension Fund Administrators (PFAs) have begun implementing PENCAP, a fully digital self-service platform designed to fast-track data recapture for Retirement Savings Account (RSA) holders nationwide. The process officially went live on 1 February, enabling Retirement Savings Account (RSA) holders to update their records remotely without visiting PFA offices. According to a statement […]
PenCom Reaffirms Commitment to Pension Inclusion for Informal Sector Workers
By Oluwakemi Kindness The National Pension Commission (PenCom) has reaffirmed its commitment to ensuring that every Nigerian, including millions in the informal sector enjoys access to a secure and dignified retirement. Director General of PenCom, Omolola Oloworaran, gave the assurance in Abuja while delivering the keynote address at the Third Annual Conference of the Pension […]
PenCom Launches PenCare to Provide Affordable Healthcare for Retirees
By Oluwakemi Kindness The National Pension Commission (PenCom) has officially inaugurated the Board of Trustees for the Pension Industry Health Care Initiative, known as PenCare. The programme is designed to deliver affordable and quality healthcare services to retirees under the Contributory Pension Scheme (CPS). Speaking at the inauguration ceremony held on Friday in Abuja, PenCom’s […]
NLC Seeks 50% Access to Pension Savings
By Oluwakemi Kindness The Nigeria Labour Congress (NLC) has called for a major review of Nigeria’s pension policy to allow workers access up to 50 percent of their Retirement Savings Account (RSA) balance before retirement. NLC President, Comrade Joe Ajaero, made the call in Abuja on Thursday during an interactive session with the National Pension […]
PenCom, ICPC Partner to Enforce Pension Compliance, Restore Trust in System
By Oluwakemi Kindness The National Pension Commission (PenCom) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) have signed a landmark Memorandum of Understanding (MoU) to strengthen transparency, accountability, and integrity in Nigeria’s pension administration. Signed at a formal ceremony in Abuja on Tuesday, the agreement establishes a structured framework for collaboration between […]
PenCom Raises Capital Base for Pension Operators
By Oluwakemi Kindness The National Pension Commission (PenCom) has announced a major increase in the minimum capital requirements for Pension Fund Administrators (PFAs) and Pension Fund Custodians (PFCs). It describes this as a strategic move to strengthen Nigeria’s pension industry and protect workers’ retirement savings. In a circular signed by the Director of Surveillance, A.M. […]
PenCom, TUC Partner to Safeguard Nigerian Workers’ Pensions
By Oluwakemi Kindness By Oluwakemi Kindness The National Pension Commission (PenCom) has reaffirmed its commitment to work more closely with the Trade Union Congress of Nigeria (TUC) to strengthen pension compliance and safeguard the retirement savings of Nigerian workers PenCom Director General, Ms. Omolola Oloworaran, gave the assurance during a courtesy visit to the TUC […]
Nigeria’s PenCom Clears Pension Arrears, Launches Pension Reform 2.0
By Oluwakemi Kindness The National Pension Commission (PenCom) says it has cleared all outstanding pension arrears under the Contributory Pension Scheme (CPS). This is according to the Director-General of PenCom, Ms. Omolola Oloworaran, who said retirees under the scheme now receive their benefits promptly. She stated this on Thursday while speaking with newsmen shortly after […]
PenCom Says Pension Funds Safe, Dismisses NLC Claims
By Oluwakemi Kindness The National Pension Commission, PenCom, has reassured Nigerian workers and retirees that their pension contributions remain safe and under strict regulation, dismissing recent allegations by the Nigeria Labour Congress, NLC, as misleading. In a letter responding to the NLC at the weekend, the Commission firmly rejects claims that workers and employers are […]