Tag: PFA

News

Workers withdrawal from pension contributions rise 87.6% in Q1 2024

The number of workers who made withdrawals from their voluntary contributions under their pension savings in response to the severe hardship in the economy grew by 87.6% in the first quarter of 2024. According to the National Pension Commission’s first-quarter report, 1,259 workers made withdrawals from the private sector, while 43 were from the public […]

Workers dump PFAs, new operators get N822bn retirement savings
News

Workers dump PFAs, new operators get N822bn retirement savings

203,127 workers have changed their Pension Fund Administrators and transferred N822.37 billion from their Retirement Savings Accounts since the National Pension Commission opened the transfer window. The Punch reported that this information was provided by PenCom in their transfers report titled “Quarterly Summary of Retirement Savings Accounts Transferred by Pension Fund Administrators” for the period […]

How PenCom invested N130bn pension fund in infrastructure
News

PenCom considers PFA securities lending

The National Pension Commission has stated that regulations are being developed to allow Pension Fund Administrators to engage in securities lending as a form of participation in the capital market. It made this disclosure on Wednesday during a session hosted by PenCom, the Securities and Exchange Commission, and the Nigerian Exchange Limited. The workshop’s focus […]