FAQs On RSA Transfer System

• November 11, 2020

CPS RETIREE PACK – Guide for Retirees under the Contributory Pension Scheme

• September 2, 2020

Revised Guidelines on Group Life Insurance Policy for Employees

• September 2, 2020

Revised Regulation on Retiree Life Annuity

• September 2, 2020

Circular on Reprogramming RSA Balance

• August 14, 2020

Procedure for reprogramming RSA balances of Retirees already on programmed withdrawal exercising their rights to transfer to Retiree Life Annuity…

Data Privacy Policy

• June 24, 2020

Revised Circular on Management of the Statutory Reserve Fund

• March 23, 2020

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.

DIRECTIVE TO LICENSED PENSION FUND OPERATORS ON SHARING AND TREATMENT OF BROKERAGE COMMISSION ON ALL BOND TRANSACTIONS

• October 30, 2019

The 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 […]

Addendum to the Circular on the Revised Procedures on the Processing of Death Benefits

• October 9, 2019

Circular on the Implementation of the Requirement for the Provision of the Fidelity Insurance Cover for Employees of PFAs/PFCs

• June 26, 2019

Section 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

Revised Guidelines for Retirement Savings Account (RSA) Registration

• June 26, 2019

The ECRS is an upgrade of the Contributor Registration System (CRS) earlier deployed by the Commission for the registration of participants of the Contributory Pension Scheme (CPS). The ECRS has the following functionalities:   i) Provides an electronic platform for the submission of requests by Pension Fund Administrators (PFAs) for the registration of unique contributors […]

Issues on the Transition from the Contributor Registration System (CRS) to the Enhanced Contributor Registration System (ECRS)

• June 26, 2019

PFAs 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.

AMENDED REGULATION ON INVESTMENT OF PENSION FUND ASSET – FEBRUARY 2019

• January 31, 2019

The requirements of this Regulation are consistent with the provisions of the Pension Reform Act, 2014. The purpose of the Regulation is to provide uniform rules and standards for the investment of pension fund assets.

Voluntary Contribution Guidelines Under the Contributory Pension Scheme

• October 25, 2018

The main purpose of the Pension Reform is to introduce a pension system that is sustainable and has the capacity to achieve the ultimate goal of providing a stable, predictable and adequate source of retirement income for each employee in Nigeria.