Tag: pension

Director-General, PenCom, Aisha Dahir-Umar
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168k workers transfer N664bn pension funds to other administrators – PenCom

Since the National Pension Commission opened up the option to transfer pension funds, 168,768 workers have moved their Retirement Savings Accounts worth N663.761bn to different Pension Fund Administrators. This was recently disclosed by PenCom in their “Quarterly summary of Retirement Savings Accounts transferred by Pension Fund Administrators” spaning from the fourth quarter of 2020 to […]

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FG’s spending on pension, gratuity drops to N356bn

The Federal Government’s expenditure on pensions and gratuity fell slightly by N3.48bn in 2021, according to figures obtained from the Central Bank of Nigeria. The CBN revealed in its data on ‘Federal Government recurrent expenditure’ that the amount spent fell from N359.6bn in 2020 to N356.12bn in the 2021 financial year. Despite yearly allocations, the […]