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Tag: Pencom

Insurance

PenCom okays gold receipts for pension funds investment

The National Pension Commission has unveiled a revised regulation that allows pension funds to gain exposure to gold through tradable Gold Receipts listed on Securities and Exchange Commission-recognized exchanges. This innovation enables pension fund administrators to invest in gold without the complexities of physical storage, offering a secure and liquid alternative asset class. According to […]

Finance

PenCom allows PFAs to invest in foreign currency instruments

The National Pension Commission has released the ‘Guidelines on Foreign Currency Pension Contributions,’ allowing Pension Fund Administrators to invest part of the pension funds in foreign currency-denominated instruments. This move is expected to expand access to the Contributory Pension Scheme for Nigerians earning in foreign currency, including those living abroad. The guidelines also aim to […]

Finance

PenCom to pilot health insurance for retirees

The National Pension Commission has announced plans to pilot health insurance coverage for retirees within the next three months and activate the Minimum Pension Guarantee to safeguard retirees’ dignity and support a decent standard of living. According to the Director General of PenCom, Ms. Omolola Oloworaran, the regulator will also unveil a series of guidelines […]

Business

PenCom bans substantial cross-shareholding among PFOs

The National Pension Commission has issued new guidelines prohibiting substantial cross-shareholding among licensed Pension Fund Operators. Released on Friday and effective immediately, the guidelines aim to enhance transparency, strengthen governance, and safeguard pension assets. PenCom defines significant cross-shareholding as a scenario in which a major shareholder in one LPFO: a) acquires or seeks to acquire […]

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Trump’s new H-1B visa fees spark chaos for banks, tech firms

United States tech firms and banks scrambled this weekend after President Donald Trump imposed new fees on H-1B visa applications, prompting panic among skilled workers from India and China. Employers issued urgent memos instructing staff abroad to return before the rule took effect at 12:01 a.m. Eastern Time on Sunday and to avoid further international […]

Business

PenCom to expand pension coverage in informal sector

The National Pension Commission has unveiled new measures to boost pension inclusion in Nigeria’s informal sector by partnering with super agents and fintech platforms to streamline enrollment into the revamped Personal Pension Plan. The disclosure was made at the 2025 Annual Conference of the Nigerian Association of Insurance and Pension Editors, themed “Strengthening Insurance and […]

News

PenCom unveils new framework for pension fund performance

The National Pension Commission has issued a directive introducing a standardized framework for calculating and reporting investment performance across pension portfolios. The circular, signed by A.M. Saleem, Head of the Surveillance Department, and addressed to all Licensed Pension Fund Operators, came into effect on July 1, 2025. It establishes a uniform methodology aimed at improving […]

Business

FG, NLC resolve pension fund dispute after PenCom meeting

The Federal Government and the Nigeria Labour Congress have successfully resolved a contentious dispute over workers’ pension funds, following a high-stakes meeting with the National Pension Commission on August 29, 2025. The resolution averts a threatened nationwide strike, signaling a significant step toward stabilizing Nigeria’s pension sector. The meeting, hosted by PENCOM Director-General Omolola Oloworaran, […]

News

PenCom recovers N4.57bn from defaulting employers in one year

The National Pension Commission has recovered N4.57 billion from defaulting employers between Q1 2024 and Q1 2025, underscoring its resolve to safeguard workers’ retirement savings under Nigeria’s Contributory Pension Scheme. The Chief Executive Officer of the Pension Fund Operators Association of Nigeria, Mr. Oguche Agudah, disclosed this in an interview with NAN on Tuesday. He […]

PenCom urges FG to raise Police Pension contribution to 20%
Business

PenCom considers new limits on alternative investments

The National Pension Commission says it is reviewing the share of funds that can be invested in infrastructure and private equity. The move is to boost returns on retirement savings, the commission’s spokesperson, Ibrahim Buwai, told Bloomberg on Tuesday. Buwai said PenCom is in the final stages of reviewing the limit on pension fund investments […]

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PenCom suspends seven mortgage banks over housing loan breaches

The National Pension Commission has suspended the acceptance and processing of equity contribution applications from seven Primary Mortgage Banks over alleged breaches of its housing loan guidelines. In a circular dated August 11, 2025, and signed by Obiora Ibeziako, Head of the Benefits and Insurance Department, PenCom directed all Pension Fund Administrators, including Closed PFAs, […]

FG appoints Opeyemi Agbaje as PenCom chairman after NLC ultimatum
News

FG appoints Opeyemi Agbaje as PenCom chairman after NLC ultimatum

The Federal Government has appointed Mr Opeyemi Agbaje as Chairman of the National Pension Commission (PenCom), following mounting pressure from the Nigeria Labour Congress over the non-constitution of the commission’s governing board. Multiple sources within the NLC and the pension industry confirmed the appointment to on Saturday, though PenCom’s spokesman, Ibrahim Buwal, said there was […]

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