The National Pension Commission has commenced issuing Compliance Certificates to Organisations bidding or soliciting for contracts with Federal Government MDAs. the Certificate has replaced the earstwhile Letters of Compliance that were issued for the same purpose.
Procedure for Registration of State and Local Government Employees
The National Pension Commission has released a Circular on the Procedure for Registration of State and Local Government Employees. Please check the Circulars' Section of this website for details.
Enrolment Exercise for Retirees of FGN MDAs
The National Pension Commission is conducting an enrolment exercise for would be retirees of the Federal Government MDAs who missed the nationwide enrolment exercise conducted in June and July of 2011. The enrolment exercise covers all those that missed the previous enrolments conducted by the Commission.
All those affected should please check the schedule below to find the dates allocated for their MDA. The exercise is taking place at the Office premises of the National Pension Commission, 174 Adetokumbo Ademola Crescent, Wuse II, Abuja.
New Guideline on Direct Real Estate Investment by CPFAs and AES Released
These Guidelines seek to standardize procedures to be adopted by Closed Pension Fund Administrators (CPFAs) and Pension Fund Administrators (for Approved Existing Schemes) that operate Defined Benefit Schemes and have or intend to have direct investments in real estate.
The National Pension Commission (PenCom) is desirous to engage the services of Recovery Agents to recover outstanding pension contributions and interest penalty from defaulting employers. Accordingly, PenCom invites proposals from suitable firms for providing the services of Recovery Agents.
The Commission has released its Annual Report and Statement of Accounts for the year ended 31 December 2010. The Report can be accessed on this website by selecting 'Annual Reports' under the menu item 'Publications' . Any comments on the Report should be forwarded to: info@pencom.gov.ng
Notice on the Enrolment of the Federal Government Employees due for Retirement Between January and December, 2012
This is to inform all employees of Treasury Funded MDAs of the Federal Government that in line with the provisions of Section 12 of the Pension Reform Act 2004 and as part of the implementation process of the issuance of Federal Government Retirement Bond, the Commission is organizing an enrolment exercise for employees in the service of the Federal Government who are dueto retirebetween January and December,2012 by virtue of attaining the age of 60/65 years or 35 years in service whichever is earlier. The exercise would also cover employees who have already retired but yet to be enrolled.
List of Organisations that were Issued Clearance Letters to Bid for Contracts with Ministries, Departments and Agencies (MDAs) as at 19 September, 2011
In accordance with the requirement that all organisations wishing to bid for any contract with any of the Federal Government MDAs must provide evidence of implementation of the Contributory Pension Scheme, a list of organisations that were issued Clearance Letters, having provided evidences of implementation of the Scheme, is hereby presented for guidance of all Federal Government MDAs and for information of the general public.
Notice to all Employees on their Right to Life Insurance Policy and Pension Contributions
This is to remind all Employees in the public and private sectors covered by the Pension Reform Act 2004 (PRA 2004) that it is their right under Section 9(3) of the PRA 2004 to have Life Insurance Policy taken on their behalf by their employers for an insured amount of not less than three (3) times their annual total emolument.
RE: COMPLIANCE WITH GUIDELINES FOR LIFE INSURANCE POLICY FOR EMPLOYEES AND SUBMISSION OF INSURANCE CERTIFICATE FOR 2011
In accordance with the provisions of Section 9(3) of the Pension Reform Act (PRA) 2004 and Section 5.5 of the Guidelines for Life Insurance Policy for Employees, Employers of labour covered by the PRA 2004 are required to submit copies of the Insurance Certificates with the schedule of benefits to the National Pension Commission (PenCom) and the Pension Fund Administrators (PFAs) where the employees maintain their Retirement Savings Accounts (RSAs).
Revised Regulation on Investment of Pension Fund Assets Released
The revised Regulation on Investment of Pension Fund Assets has been released. The amended Regulation can be accessed on this website by selecting 'Regulation on Investment of Pension Fund Assets' under the 'Regulations' menu.
Business Combination between First Alliance Pension & Benefits Limited and ARM Pension Managers Limited
The Commission wishes to announce the successful merger of ARM Pension Managers Limited and First Alliance Pension & Benefits Limited through a business combination of the two entities. The merger was business induced and therefore at the instance of the two entities which resulted into their fusing into an enlarged ARM Pension Managers Limited. Consequently, First Alliance Pension & Benefits Limited ceases to exist as a legal entity as all its business has been taken over by ARM Pension Managers limited.
The merging parties have complied with all legal and regulatory requirements including Securities and Exchange Commission’s (SEC) approval and obtained a court order sanctioning the merger. The funds of the two entities have been consolidated with one Pension Fund Custodian.
Voluntary Exit of Standard Alliance Pension Managers Limited from the Pension Industry
The Commission also wishes to announce the voluntary exit of Standard Alliance Pension Managers Limited from the pension industry. This was sequel to the PFA’s request to the Commission to voluntarily exit the pension business and transfer the assets it was managing to Pension Alliance Limited (PAL). The Commission has approved the request and the transfer of the assets it was managing has also been concluded.
Employer and employee contributions made on behalf of employees to either the NPF and or the NSITF have been posted to individual employees accounts...Read More
Notice on Provisions of the Public Procurement Act 2007 as they Relate to Pensions
By virtue of the provision of Section 16 (6)(d) of the Public Procurement Act, 2007 (PPA 2007), any supplier, contractor or consultant bidding or soliciting contract or business from any Federal Government Ministry, Department and Agency must fulfill all its obligations with respect to pensions...Read More
Compliance with Guidelines for Life Insurance Policy
It is the right of employees under Section 9(3) of the PRA 2004 to have Life Insurance Policy taken on their behalf by their employers..Read More
The Right of Employees to Life Insurance Policy and Pension Contributions Employers of labour covered by the PRA 2004 are required to submit copies of the Insurance Certificates with the schedule of benefits...Read More
Transfer of Pension Funds and Assets to Licensed (PFAs) and (PFCs) All organizations that are yet to transfer to the licensed PFAs and PFCs all Pension Funds and Assets under their management and control are in violation of the Act...Read More
