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Tag: Pencom

Business

PenCom, PFAs partner to roll out digital data recapture system

The National Pension Commission, in partnership with Pension Fund Administrators, has introduced a self-service online data recapture platform called the Data Recapture Self-Service Platform. This was disclosed in a statement by PenCom. The regulator said the platform, which became operational on Sunday, February 1, is designed to address data inconsistencies affecting the pension industry. “This […]

Business

PenCom approves 1,173% pension increase for NSITF retirees

The National Pension Commission has approved a 1,173 per cent increase in pensions for retirees under the Nigeria Social Insurance Trust Fund, ending a 21-year freeze that eroded beneficiaries’ incomes due to inflation. PenCom’s Director-General, Omolola Oloworaran, disclosed the approval in a statement on Wednesday. The adjustment affects 2,116 retirees, raising total monthly pension payments […]

Business

PenCom empowers PFAs to appoint auditors, actuaries for pension schemes

The National Pension Commission has authorised Pension Fund Administrators to appoint external auditors and actuaries for Approved Existing Schemes and Additional Benefits Schemes. The directive was contained in a recent circular issued to all licensed PFAs and signed by the Director of the Surveillance Department, A. M. Saleem. PenCom explained that the move followed the […]

Business

PenCom unveils pension industry healthcare program for retirees

The National Pension Commission has revealed plans to launch the Pension Industry Healthcare Initiative, starting with a pilot phase in March 2026 that will serve 30,000 low-income retirees nationwide. PenCom Director-General, Omolola Oloworaran, made the disclosure at the commission’s 2025 media conference in Lagos on Thursday, according to NAN. The PenCare initiative aims to offer […]

Business

PenCom begins disbursement of N758bn FG bond

The Director-General of the National Pension Commission, Ms Omolola Oloworaran, has announced that the commission has begun disbursing the N758 billion bond approved by the Federal Government. Speaking at the Pension Revolution Summit in Abuja, Oloworaran said the bond, approved by President Bola Tinubu in February, has already been redeemed. She explained that the funds […]

Finance

PenCom recovers N32.27bn from pension defaulting employers

The National Pension Commission has announced that it has recovered a cumulative total of ₦32.27 billion from defaulting employers between June 2012 and September 2025. This significant recovery is a result of the Commission intensifying its nationwide enforcement campaign aimed at curbing persistent breaches of the Pension Reform Act 2014. Omolola Oloworaran, the Director General […]

Business

PenCom confirms pension disbursement for November retirees

The National Pension Commission has confirmed that it has completed pension payments for all retirees who left service in November, signaling an end to the long-standing delays in entitlements for workers in treasury-funded Ministries, Departments, and Agencies. The Head of Corporate Communications at PenCom, Mr. Ibrahim Buwai made this disclosure on Sunday in Abuja, according […]

Business

PENCOM gives PFAs, PFCs extension to meet capital rules

The National Pension Commission has extended the compliance deadline for its revised minimum capital requirements for Licensed Pension Fund Administrators and Pension Fund Custodians. Existing operators now have an additional six months to meet the updated standards. In an addendum to its earlier circular dated 26 September 2025 (Ref: PenCom/INSP/Surv/2025/1255), the Commission stated that the […]

Business

Senate confirms Opeyemi Agbaje as PENCOM boss

The Nigerian Senate has approved Mr. Opeyemi Olukayode Agbaje as Chairman of the National Pension Commission, along with four commissioners representing the country’s geopolitical zones. The confirmation, following a formal request from President Bola Tinubu, completes the long-awaited constitution of the commission’s governing board. The newly confirmed commissioners are: Hafiz Muhammad Kawu Ibrahim (North West) […]

Finance

Over 10m Nigerians benefit from pension scheme — PenCom

The Director-General of the National Pension Commission, Omolola Oloworaran, has asserted that the Contributory Pension Scheme has completely rewritten Nigeria’s pension narrative over the last two decades. Ms. Oloworaran made this declaration during the Stakeholders’ Conference on the Workings of the CPS for employees and pensioners of the federal government treasury-funded Ministries, Departments, and Agencies […]

Business

PenCom tightens capital rules for pension fund operators

The National Pension Commission has raised the minimum capital requirements for Pension Fund Administrators and Pension Fund Custodians to N20 billion and N25 billion, respectively. The new threshold must be met by 31 December 2026. The announcement comes in a recent circular from the regulator, which has introduced several key guidelines over the past week […]

Finance

Pensioners to benefit from ₦758bn bond, PenCom DG assures

The National Pension Commission has assured pensioners across Nigeria that all outstanding pension increases approved by the Federal Government will be fully implemented before the end of the year, backed by a ₦758 billion bond released by President Bola Ahmed Tinubu. The Director General of PenCom, Omolola Oloworaran, gave the assurance during a courtesy visit […]

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