Section 69 (f) of the Pension Reform Act (PRA 2014) mandates Pension Fund Administrators (PFAs) and Pension Fund Custodians (PFCs) to provide annual Fidelity Insurance Cover for all staff to the full value of the pension funds and assets managed or held by them or as may be determined by the Commission
DownloadThe ECRS is an upgrade of the Contributor Registration System (CRS) earlier deployed by the Commission for the registration of participants of the Contributory Pension Scheme (CPS). The ECRS has the following functionalities: i) Provides an electronic platform for the submission of requests by Pension Fund Administrators (PFAs) for the registration of unique contributors […]
DownloadPFAs would recall the various engagements of the Commission during the process of the development of the Enhanced Contributor Registration System (ECRS), and their subsequent participation in the pilot test of the application, preparatory to the deployment of same.
DownloadIt has come to the Commission’s attention that following the Circular referenced INSP/CIR/SOD/18/01 of 31 August 2018, some Pension Fund Administrators have been refusing to execute the approvals granted by the Benefits and Insurance Department of the Commission for refund of pension contributions of State and Local Government employees.
DownloadFurther to the Circular Ref. PENCOM/INSP/CIR/Surv/18/21 dated 8 August 2018, suspending the use of the Revised Programmed Withdrawal Templates (PWT), you are by this circular requested to revert to the old PWT for the computation of retirement benefits under the CPS.
DownloadFollowing the implementation of the Framework on Pension Enhancement for existing retirees on Programmed Withdrawal under the Contributory Pension Scheme
DownloadThe Commission has received series of complaints from retirees, who alleged that their PFAs have wrongfully paid their death benefits to their Next-of-Kin or legal beneficiaries while they are still alive and in active service without their consent.
DownloadFollowing the implementation of the Circular ref. PENCOM/INSP/CIR/SURV/17/22 of 16 November, 2017 on Withdrawal of Voluntary Contributions
DownloadThis is to inform all Pension Fund Administrators that henceforth all requests for approvals
DownloadFollowing the recent implementation of the revised Template for Programmed Withdrawal as a mode of accessing retirement benefits under the Contributory Pension Scheme, the Commission has received complaints from several quarters indicating concerns against the new Template
DownloadRe:Implementation Guidelines on Retirement Savings Account (RSA) Multi-Fund Structure (Addendum).
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