FRAMEWORK

FRAMEWORK AND IMPLEMENTATION GUIDELINES FOR RSA RETIREE FUND   Read More
This Framework covers operators (i.e. Pension Fund Administrators and Custodians) as well as Employers. It is expected that employee related compliance issues would be handled through their employers and awareness campaigns.   Read More
FRAMEWORK ON SANCTIONS AND PENALTIES FOR NON COMPLIANCE WITH PRA 2004   Read More
This Framework covers operators (i.e. Pension Fund Administrators and Custodians) as well as Employers. It is expected that employee related compliance issues would be handled through their employers and awareness campaigns.   Read More
The framework for resolution of failing Operators in the Nigerian Pension Industry is issued by the National Pension Commission (Commission) in the exercise of its powers under Sections 20 and 54 of the Pension Reform Act 2004 (PRA 2004). The framework is intended to standardize its actions in dealing with failing Operators.   Read More
The Framework for the Supervision of States and Local Governments Schemes sets out the implementation processes and supervisory machinery to be adopted in ensuring effective and smooth operations of the Schemes at the State and Local Government levels, and also for supervising the activities of the State Pension Bureaux by the National Pension Commission.   Read More
Regime of Sanctions and Penalties for Non/Late Submission of Regulatory Returns.   Read More
Section 11 (5) (b) of the Pension Reform Act (PRA 2004) provides that the employer shall not later than 7 days from the day the employee is paid his/her salary, remit an amount comprising the employee's and employer's pension contributions to the custodian specified by the Pension Fund Administrator (PFA) of the employee. Furthermore, Section 11 (7) of the PRA 2004 provides that any employer who fails to remit the contributions within the time prescribed shall, in addition to making the remittance already due, be liable to a penalty to be stipulated by the Commission provided that the penalty shall not be less than 2 percent of the total contributions that remains unpaid for each month the default continues.   Read More
NATURE OF THE FUND
The Fund shall be strictly for RSA Retirees in both the Private and Public Sectors.

COVERAGE
The Fund shall be restricted to RSA retirees in the first instance. AES &CPFAs shall continue in line with the rules governing their approved schemes. It shall be for retirees operating the Programmed Withdrawal retirement option. In essence, any retiree who had temporarily accessed his RSA by withdrawing 25% of RSA balance shall still remain under the RSA Fund and not the Retiree Fund.   Read More