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.
DownloadThis 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:
DownloadOpening of Retirement Savings Accounts with Licensed Pension Fund Administrators (PFAs).
Read MoreOpening of Retirement Savings Accounts with Licensed Pension Fund Administrators (PFAs) for the implementation of the contributory pension scheme.
DownloadOpening of Retirement Savings Account with Licensed Pension Fund Administrators(PFAs) for the implementation of the contributory pension scheme.
DownloadThe 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 appointment to Board and Top Management Positions as well as new requirements for PFAs with funds under management of N100 billion and above. In addition, […]
DownloadThe 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 business given its intensive IT nature and an average gestation period of 5 years. The Commission had consulted with the pension industry for its input […]
DownloadPlease 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 Fund Administrators(PFAs) to specific Ministries, Departments and Agencies (MDAs). This concession was given to allow the states jump start the registration of their employees under […]
DownloadReview of Pension rates in accordance with Section 173(3) of the constitution of the Federal Republic of Nigeria, 1999 as amended.
DownloadPayment of entitlements to retirees of the Federal Capital Territory Authority.
DownloadThe 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 of this, all licensed Operators are required to seek the prior approval of the Commission before payment of both interim and final dividend to shareholders.
DownloadWe 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 Industry.
DownloadThe 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 software. Any Operator infringing this requirement will from now on be penalized appropriately.
DownloadMinimum requirement for the inclusion of state bonds as investible instruments in the pension industry.
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