The pension funds contributed to the NSITF before the commencement of the new pension scheme including the income shall remain with the NSITF for a minimum period of five years […]
The new pension scheme is mandatory for all categories of employers and employees covered under the Pension Reform Act.
No. Section 10(2) of the Pension Reform Act (PRA) 2014 exempts from tax all interests, dividends, profits, investment and other income accruable to pension funds and assets.
A Pension Fund Administrator (PFA) is a company licensed by the National Pension Commission to manage and invest the pension funds in the employee’s Retirement Savings Account (RSA).
Where an employee who has been contributing under the new pension scheme dies before his/her retirement, his retirement benefits shall be paid to his beneficiary under a will or the […]
A contributor or beneficiary under NSITF Act can only move his pension contributions under NSITF to another PFA after a period of 5 years from the date of commencement of […]
There is no merger of private sector pension with that of the public sector pension since the sources of funding are not the same. However, both are now being regulated […]
The National Pension Commission issues licences to PFAs and Custodians, regulates their activities and generally formulates, directs and oversees the overall policy guidelines on pension matters in Nigeria.