National Pension Commission (Pencom)
The government of Jigawa state has ignited celebration and jubilation after announcing the disbursement of N1.856bn to 728 retirees and families of deceased workers.
Do you know how to get your PENCOM Certificate? Learn about the cost, requirements, and step-by-step application process to secure your official document.
The PenCom transfer window was introduced in 2021 to allow workers and retirees the flexibility of choosing another Pension Fund Administrator if they desire.
As the purchasing power of the naira continues to drop, PenCom has recommended investment strategies for PFAs to optimise returns, ensuring long-term sustainability
PenCom says the plan is to provide financial security for pensioners in their retirement years. PenCom has mentioned the date the new payout takes effect.
By the latest directive, any employer that fails to remit pension obligations for its employees will be blacklisted by the commission and face stiff penalties.
The contributory pension scheme mandates employers to make regular contributions to the employees' retirement savings account, under a pension fund administrator.
The National Pension Commission has made changes to the retirement benefits under the Contributory Pension Scheme and has approved payment providers.
The competition is now mounting among pension fund administrators as RSA holders are using the transfer winder to switch fund managers to those with higher returns.
National Pension Commission (Pencom)
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