PENSION

Stanbic IBTC Pension Managers Limited said it has paid over N200 billion to retirees since it commenced operations in 2005. It added that in its 12 years of existence, the Pension Fund Administrator (PFA) has over one million Retirement Savings Account (RSA) holders and assets under management in excess of...

Barring last minute disagreement, chunk of pension funds will soon be injected into some power plants projects being conceived by some Nigerian investors. The investors, it was learnt, are already having discussions with Pension Fund Administrators, on how to seal the deals. The President, Pension Fund Operators Association of Nigeria...

Stanbic IBTC Pension Managers has advised Nigerian workers to start planning for their retirement as soon as they are in active service. Planning for retirement, according to the PFA, should commence from the first day the individual starts working, noting that the individual will not encounter the usual apprehension associated...

The Federal Government is now set to float bonds in the next couple of weeks to offset its huge pension arrears, Business 247 News Online has learnt. There are strong indication that the amount to be involved could be in the region of N100 billion, even as activities have reached...

No fewer than 4,466 retirees of the Lagos State civil services were paid N18.598 billion as pension accrued rights by the state government. The state government, through Lagos State Pension Commission (LASPEC) said the aforementioned sum was paid within 14 months, stating that the beneficiaries are from the Mainstream Civil...

Former Nigerian President, Chief Olusegun Obasanjo, has called for inclusion of the informal sector in the pension schemes across African countries. While speaking at the ongoing World Pension Summit (WPS) Africa Special in Abuja today, the ex-president said poor coverage and non-inclusion of the private sector, the self-employed and informal...

An Abuja-based Pension Fund Administrator (PFA), Premium Pension Limited, has won the Africa’s Most Innovative Pension Company of the Year, 2016 award. The award was conferred on the PFA by the African Quality Institute- publishers of Quality Standard Magazine. Reacting on the award, the Managing Director of the firm, Mr....

The Director, Centre for Pension Right Advocacy (CPRA), Barr Ivor Takor, said lack of sufficient money in the Retirement Benefits Bond Redemption Fund Account (RBBRFA) in the Central Bank of Nigeria (CBN) was the current cause for the delays in paying the pension of retired federal public servants. This, he...

As companies in both public and private sectors keep closing down, with some laying off their staff on  daily basis, as a result of the current economic downturn in the country, more unemployed Nigerians have the opportunity of resorting to drawing 25 per cent of their pension contributions to meet...

The Lagos State Government has paid a sum of N919 million pension entitlement to 180 retirees who retired from the Mainstream Civil Service, Local Governments, State Universal Basic Education Board (SUBEB), Teachers Establishment and Pension Office (TEPO) and other parastatals of the state. The N918.7 million was paid as August...