Circulars

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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CIRCULAR ON DISCLOSURE OF FUNDS UNDER CUSTODY

It has been observed from the review of �company� audited accounts so far submitted by PFCs, that funds under custody are usually not disclosed on the financials.

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CIRCULAR ON AUDITED ACCOUNTS

Posting of audited accounts on Operators’ website

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CIRCULAR ON RISK MANAGEMENT

The following regulations are hereby issued: Guidelines for Risk Management Framework for Licensed Pension Operators.

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PROCEDURE FOR PROCESSING DEATH BENEFITS

This is to bring to the attention of all Ministries, Departments and Agencies (MDAs) that Section 9(3) of the Pension Reform Act (PRA) 2004 requires all employers to maintain Life Insurance Policy in favour of the employee for a minimum of three times the annual total emolument (ATE) of the employee.

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PROCEDURE AND DOCUMENTATIONS FOR ACESSING RETIREMENT BENEFITS

Further to the various workshops held by the Commission for employees of the Federal Government under the Contributory Pension Scheme and advertisement placed in the media, the Commission would like to again, draw the attention of employees to the procedure and the necessary documents required for accessing retirement benefits under the Contributory Pension Scheme.

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GENERAL NOTICE ON RETIREMENT BENEFITS

General notice on the procedure and documentation for accessing retirement benefits by private sector employees under the contributory pension scheme.

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CIRCULAR ON ONLINE REGISTRATION BY EMPLOYEES

All employees in the Federal Ministries, Departments, Agencies, Military, Para-Military, Security Establishments and the Federal Capital Territory(FCT) who have opened their Retirement Savings Accounts (RSAs) with their chosen Pension Fund Administrators (PFAs) are required to visit the website: <a href=”http://www.pencom.gov.ng”>www.pencom.gov.ng</a> and submit their current and up-to-date information.

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CIRCULAR ON APPOINTMENT OF PFC BY PFA

This Circular is for guidance in terms of the selection and appointment of PFCs. The appointment of PFCs shall be in line with the following guidelines:

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