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Business

PenCom removes approval requirement for PFA advertisements

The National Pension Commission has scrapped the requirement for Pension Fund Administrators to seek prior written approval before publishing advertisements and marketing materials. The change was outlined in a circular dated May 8, 2026, signed by the Director of the Surveillance Department, A.M. Saleem. According to the commission, the new directive takes immediate effect and […]

Finance

PenCom to deploy tools for states pension compliance enforcement

The Director-General of the National Pension Commission, Omolola Oloworaran, has disclosed that the agency plans to deploy “tools” to enforce pension compliance at the state level. Nairametrics reported that she made this known during a press interview on Thursday on the sidelines of the maiden edition of the bi-annual consultative session for Heads of Service […]

Finance

Employees ₦30bn pension contributions stuck in PFAs accounts – PENCOM

Nearly N30 billion in pension contributions is currently stuck with Pension Fund Administrators instead of reaching employees’ accounts. The National Pension Commission attributes this N29.84 billion backlog to employer errors, such as inconsistent data and irregular schedules, which prevent the transfer of funds to individual Retirement Savings Accounts. Stanbic IBTC accounts for nearly half of […]

Business

PenCom lifts age limit on personal pension plan for students, newborns

The National Pension Commission has removed the age restriction on its Personal Pension Plan, enabling students and even newborns to start saving for retirement. Director-General Omolola Oloworaran announced the change following the second Pension Industry Leadership Council meeting in Lagos on Tuesday. With this update, Nigerians of all ages can now participate in the personal […]

Business

FG unveils PenCom governing board in Abuja

The Federal Government on Monday inaugurated the Governing Board of the National Pension Commission weeks after the Nigerian Labour Congress made the request to PenCom Director-General, Ms. Omolola Oloworaran. The inauguration ceremony, held in Abuja, was overseen by the Secretary to the Government of the Federation, Senator George Akume. It was earlier reported that during […]

Business

Pension funds hit N28.04tn, govt securities dominate

Nigeria’s pension funds totaled N28.04 trillion, with federal government securities and domestic stocks accounting for 74.85 per cent of the portfolio, as of January 31, 2026. The National Pension Commission reported the figures in its latest unaudited industry portfolio update, highlighting fund managers’ preference for government-backed instruments and local equities to ensure safety and regulatory […]

Business

PenCom raises equity limits across RSA funds

The National Pension Commission has raised the investment limits for ordinary shares across RSA Funds I, II, III and VI-Active, a step that could unlock nearly N1tn in potential inflows into Nigeria’s equities market, according to a new thematic report by CardinalStone Research. The report noted that the regulator said the move was aimed at […]

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 […]

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