Circulars

Re: Circular on Forwarding of Requests for Refund of Pension Contributions to Employees of States and Local Governments By Pension Fund Administrators

It 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.

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Re: Review of Programmed Withdrawal Template

Further 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.

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Addendum To The Framework On Pension Enhancement For Existing Retirees On Programmed Withdrawal Under The Contributory Pension Scheme (CPS)

Following the implementation of  the Framework on Pension Enhancement for existing retirees on Programmed Withdrawal under the Contributory Pension Scheme

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Revised Procedures On The Processing of Death Benefits

The 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.

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Addendum to the Circular on Withdrawals from Voluntary Contributions

Following the implementation of the Circular ref. PENCOM/INSP/CIR/SURV/17/22 of 16 November, 2017 on Withdrawal of Voluntary Contributions

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Circular on Forwarding of Requests for Refunds in Respect of Employees of States and Local Governments by PFA

This is to inform all Pension Fund Administrators that henceforth all requests for approvals

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Circular on Review of Programmed Withdrawal Template

Following 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

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Implementation Guidelines On RSA Multi-Fund Structure (Addendum)

Re:Implementation Guidelines on Retirement Savings Account (RSA) Multi-Fund Structure (Addendum).

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CIRCULAR ON LAGOS STATE BOND AS AN INVESTIBLE INSTRUMENT

The Lagos State Bond has been granted a no objection for inclusion as an investment instrument.

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CIRCULAR ON INCLUSION OF NIGER STATE BOND AS AN INVESTIBLE INSTRUMENT IN THE PENSION INDUSTRY

We write to inform you that the Commission has issued a letter of no objection for inclusion of the N21 Billion Fixed Rate Niger State Bond Series 1 as an investible instrument in the Pension Industry.

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