Circulars

CIRCULAR ON OPENING RSA WITH PFAs No.3

Opening of Retirement Savings Accounts with Licensed Pension Fund Administrators (PFAs).

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CIRCULAR ON OPENING RSA WITH PFAs No.2

Opening of Retirement Savings Accounts with Licensed Pension Fund Administrators (PFAs) for the implementation of the contributory pension scheme.

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CIRCULAR ON OPENING RSA WITH PFAs No.1

Opening of Retirement Savings Account with Licensed Pension Fund Administrators(PFAs) for the implementation of the contributory pension scheme.

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CIRCULAR ON REQUIREMENTS FOR PFAS WITH FUNDS UNDER MANAGEMENT OF N100 BILLION & ABOVE

The significant growth in the size of pension assets and the changing dynamics of pension business has necessitated the need for the Commission to issue another circular in respect of […]

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CIRCULAR ON MINIMUM SHARE CAPITAL REQUIREMENT FOR LICENSED PENSION FUND ADMINISTRATORS (PFA)

The Commission has through its oversight function observed that the minimum paid up share capital of N150 million was no longer adequate to meet the operational expenses of a PFA […]

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CIRCULAR ON PROCEDURE FOR REGISTRATION OF STATE AND LOCAL GOVERNMENT EMPLOYEES(REVISED)

Please recall the commission’s earlier circular referenced PENCOM/INSP/CIR/PSP/11/01, which grants concessions to state to adopt a structured arrangement in the registration of States’ and Local Governments’ employees by assigning Pension […]

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CIRCULAR ON REVIEW OF PENSION RATES

Review of Pension rates in accordance with Section 173(3) of the constitution of the Federal Republic of Nigeria, 1999 as amended.

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CIRCULAR ON FCTA RETIREES

Payment of entitlements to retirees of the Federal Capital Territory Authority.

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CIRCULAR ON PAYMENT OF DIVIDEND BY LICENSED OPERATORS

The Commission has observed from the review of Company audited accounts that Operators do not seek the prior approval of the Commission before payment of dividends to shareholders. In view […]

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CIRCULAR ON INCLUSION OF OSUN 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 the inclusion of Osun Development Bond 2012 as an investible instrument in the Pension […]

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CHANGE OF OPERATING SOFTWARE BY LICENSED PENSION FUND OPERATORS WITHOUT THE PRIOR APPROVAL OF THE COMMISSION

The Commission has observed that some Operators change their operating Software without notifying the Commission. Consequently, all licensed Operators are henceforth required to inform the Commission when changing their operating […]

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CIRCULAR ON MINIMUM REQUIREMENT FOR INVESTMENT IN STATE BONDS

Minimum requirement for the inclusion of state bonds as investible instruments in the pension industry.

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CIRCULAR ON SERVICE DELIVERY BY PENSION FUND ADMINISTRATORS

The Commission has realized through its oversight functions as well as information obtained from stakeholders in the pension industry that Pension Fund Administrators (PFAs) were failing in one of their […]

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CIRCULAR ON LATE RESPONSE TO CORRESPONDENCE FROM THE COMMISSION BY OPERATORS

It has been observed that Operators have formed the habit of not responding to correspondence from the Commission within the stipulated time frame. Consequently, Management is by this circular informing […]

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