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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

Re: Circular on Forwarding of Requests for Refund of Pension Contributions to Employees of States and Local Governments By Pension Fund Administrators

• October 4, 2018

It 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 […]

Re: Review of Programmed Withdrawal Template

• October 4, 2018

Further 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 […]

FRAMEWORK FOR MICRO PENSION PLAN 2018

• September 14, 2018

The provisions of the Pension Reform Act 2014 (PRA 2014) applies to all employees in the Public Service of the Federation, Federal Capital Territory, States and Local Governments and the […]

Guidelines for Micro Pension Plan 2018

• September 14, 2018

Section 2(3) of the Pension Reform Act, 2014 (PRA 2014) provides that employees of organizations with less than three employees as well as the self-employed persons shall be entitled to […]

Circular on Forwarding of Requests for Refunds in Respect of Employees of States and Local Governments by PFA

• September 3, 2018

This is to inform all Pension Fund Administrators that henceforth all requests for approvals