Pursuant to its role as specified in Section 97 of the Pension Reform Act 2004, the National Pension Commission(PenCom) hereby sets out the minimum qualification requirements for appointments to the Board and Top Management positions of licensed Pension Fund Administrators (PFAs) and Pension Fund Custodians (PFCs).
DownloadThe following are the ICT guidelines serving as a minimum IT requirements for licensed Pension Fund Administrators in Nigeria. The key objective is to midwife a system that is robust, efficient and transparent in its entirety, based on principles required to assure the success of the Defined Contribution Pension System.
DownloadThis Fund Accounting Guideline is for the regulatory reporting of the financial statements of Pension Funds
DownloadPrior to the enactment of the Pension Reform Act (PRA) 2004, retiring Heads of Service of the Federation and Permanent Secretaries were entitled to receive 100% of their Annual Total Emoluments as pension for life…
DownloadTransparency is one of the core values of the Commission which has been encouraged amongst the operators. As a regulatory philosophy, the Commission has adopted a stakeholder approach in its regulatory activities. This philosophy has often encouraged operators to make meaningful contributions that would add value to regulatory initiatives thus engendering amongst stakeholders, a sense […]
DownloadThe purpose of the guidelines is to provide general guidance on transitional matters for both the public and private sectors relating to the implementation of the Pension Reform Act 2004.
DownloadThe Pension Reform Act, 2004 (the Act) provided that contributions into the NSITF scheme (the Scheme) together with accrued income shall be transferred into members. Retirement Savings Accounts (RSAs) after the expiration of the 5 years moratorium i.e. from July, 2009. The Act also provided that the Commission should supervise the transfer.
DownloadThese Guidelines seek to standardize procedures to be adopted by Closed Pension Fund Administrators (CPFAs) and Pension Fund Administrators (for Approved Existing Schemes) that operate Defined Benefit Schemes and have or intend to have direct investments in real estate.
DownloadMany employers in their effort to comply with the Pension Reform Act 2004 (Act) have demonstrated strong commitment by remitting regularly the pension contributions of employees who have opened RSAs to the PFAs. However, some of the employers who are complying with the provisions of the Act still have unremitted pension contributions because of failure […]
DownloadThe Pension Reform Act, 2004 (the Act) provided that contributions into the NSITF scheme (the Scheme) together with accrued income shall be transferred into members. Retirement Savings Accounts (RSAs) after the expiration of the 5 years moratorium i.e. from July, 2009. The Act also provided that the Commission should supervise the transfer.
DownloadSection 30 of the Pension Reform Act, 2004 established for the Public Service of the Federation and the Federal Capital Territory, Pension Departments to be known as the Pension Transitional Arrangement Departments (PTAD). The PTAD is to be made up of the existing pension boards or offices in the Public Service of the Federation and […]
DownloadThe need for the issuance of a Guideline in respect of appointment of Pension Fund Custodians (PFCs) by Pension Fund Administrators (PFAs) has arisen as a result of the growing number of States that have enacted the Contributory Pension Scheme into law.
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