Further to the Commission’s Circular Referenced PENCOM.INSP/CIR/SURV/15/15 of 22 October, 2015 on management of the Statutory Reserved Fund, the Commission has observed the need to revise the Investment Limits in Section VI of the Circular.
DownloadThe Securities and Exchange Commission (SEC) has through a Circular dated 27 July 2019 directed that only Capital Market Operators duly registered by SEC are eligible to be paid brokerage fee/receiving agents’ commission and such Operators shall not pay or offer a percentage of the commission earned from services provided in transaction as an incentive […]
DownloadSection 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
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.
DownloadThis is to inform all Pension Fund Administrators that henceforth all requests for approvals
DownloadRe:Implementation Guidelines on Retirement Savings Account (RSA) Multi-Fund Structure (Addendum).
DownloadThe Lagos State Bond has been granted a no objection for inclusion as an investment instrument.
DownloadWe 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.
DownloadIt 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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