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PenCom office

PenCom office

Pension Insight: PenCom issues consumer protection framework (part 1)

byThe Explainer

May 9, 2024

PenCom: We're building a system that secures workers' future, protects retirees' legacy

PenCom: We're building a system that secures workers' future, protects retirees' legacy

Pension Insight: How expatriates, Nigerians working abroad can participate in CPS

byThe Explainer

May 3, 2024

Pension Insight: CPS eases job loss impact, N14.2bn paid to 8,651 RSA holders in Q1

byThe Explainer

April 25, 2024

PenCom commences online enrolment exercise for prospective retirees The National Pension Commission (PenCom) says it has commenced the online verification and enrolment exercise for prospective retirees in ministries, departments and agencies (MDAs) of the federal government. The commission said the exercise is for those who are due to retire in 2025. Omolola Oloworaran, acting director-general (DG), PenCom, spoke at a workshop on the online enrolment application for pension desk officers (PDOs) of treasury-funded ministries, departments and agencies (MDA) of the federal government, on Monday in Abuja. Oloworaran said the commission is working effortlessly to ensure that challenges such as application downtimes are resolved. She also said a new and more efficient enrolment application that will provide a user-friendly and seamless experience for users has been developed. “At the National Pension Commission (PenCom), we hold firmly to our statutory responsibility of ensuring a seamless pre-retirement verification and enrolment process for employees of federal government treasury-funded MDAs,” Oloworaran said “Each year, we embark on this exercise to gather accurate data for determining the Accrued Pension Rights of prospective retirees, so that the federal government can make the necessary budgetary provisions. “Today’s session is not just a routine gathering; it is part of PenCom’s commitment to building the capacity of stakeholders, specifically you, the Pension Desk Officers, whose roles are indispensable in this process. “This workshop aims to equip you with the skills and knowledge needed to effectively use the application and address any challenges that arise during the enrolment process. “We are also here to confront the issues of the past head-on.” 'THERE WERE GAPS IN PREVIOUS ENROLMENT' She further said in previous enrolment exercises, gaps and challenges were observed. The PenCom DG added that the workshop will provide practical solutions and clarity on the modalities for the upcoming 2025 enrollment. “We understand that some challenges, like application downtimes, have occasionally hindered the process, particularly during last-minute rushes,” she said. “I am pleased to inform you that we are actively working on developing a new, more efficient enrolment application that will provide a user-friendly and seamless experience for all stakeholders." Oloworaran also reassured that the commission is committed to continuously improving service delivery across the pension industry. The PenCom boss said despite some setbacks, including delays in the release of funds for retirees’ accrued rights, she’s confident that these issues will soon be resolved. “Today is not just about resolving technical issues; it is also about reaffirming our shared responsibility to Nigeria’s retirees, who deserve timely and seamless access to their benefits,” she added. Oloworaran also said significant progress has been made by all critical stakeholders to clear the outstanding pension liabilities and put in place long-term solutions that will prevent future delays in funding.

PenCom commences online enrolment exercise for prospective retirees The National Pension Commission (PenCom) says it has commenced the online verification and enrolment exercise for prospective retirees in ministries, departments and agencies (MDAs) of the federal government. The commission said the exercise is for those who are due to retire in 2025. Omolola Oloworaran, acting director-general (DG), PenCom, spoke at a workshop on the online enrolment application for pension desk officers (PDOs) of treasury-funded ministries, departments and agencies (MDA) of the federal government, on Monday in Abuja. Oloworaran said the commission is working effortlessly to ensure that challenges such as application downtimes are resolved. She also said a new and more efficient enrolment application that will provide a user-friendly and seamless experience for users has been developed. “At the National Pension Commission (PenCom), we hold firmly to our statutory responsibility of ensuring a seamless pre-retirement verification and enrolment process for employees of federal government treasury-funded MDAs,” Oloworaran said “Each year, we embark on this exercise to gather accurate data for determining the Accrued Pension Rights of prospective retirees, so that the federal government can make the necessary budgetary provisions. “Today’s session is not just a routine gathering; it is part of PenCom’s commitment to building the capacity of stakeholders, specifically you, the Pension Desk Officers, whose roles are indispensable in this process. “This workshop aims to equip you with the skills and knowledge needed to effectively use the application and address any challenges that arise during the enrolment process. “We are also here to confront the issues of the past head-on.” 'THERE WERE GAPS IN PREVIOUS ENROLMENT' She further said in previous enrolment exercises, gaps and challenges were observed. The PenCom DG added that the workshop will provide practical solutions and clarity on the modalities for the upcoming 2025 enrollment. “We understand that some challenges, like application downtimes, have occasionally hindered the process, particularly during last-minute rushes,” she said. “I am pleased to inform you that we are actively working on developing a new, more efficient enrolment application that will provide a user-friendly and seamless experience for all stakeholders." Oloworaran also reassured that the commission is committed to continuously improving service delivery across the pension industry. The PenCom boss said despite some setbacks, including delays in the release of funds for retirees’ accrued rights, she’s confident that these issues will soon be resolved. “Today is not just about resolving technical issues; it is also about reaffirming our shared responsibility to Nigeria’s retirees, who deserve timely and seamless access to their benefits,” she added. Oloworaran also said significant progress has been made by all critical stakeholders to clear the outstanding pension liabilities and put in place long-term solutions that will prevent future delays in funding.

Business

PenCom Insight: RSA transfer system revolutionises Nigerian pension industry

byThe Explainer

April 18, 2024

'SEC lacks rules' -- PenCom asks licensed PFAs to suspend investment in commercial papers

'SEC lacks rules' -- PenCom asks licensed PFAs to suspend investment in commercial papers

Pension Insight: Enhancing retirement benefits through voluntary contributions in CPS

byThe Explainer

April 11, 2024

PenCom office

PenCom office

Pension Insight: How strong corporate governance safeguards pension funds in CPS

byThe Explainer

April 4, 2024

PenCom: We're building a system that secures workers' future, protects retirees' legacy

PenCom: We're building a system that secures workers' future, protects retirees' legacy

Pension Insight: PenCom empowers employees to report noncompliance

byThe Explainer

March 29, 2024

Pension Insight: Non-interest fund sustains growth, hits N54.27bn in pension assets

byThe Explainer

March 21, 2024

'SEC lacks rules' -- PenCom asks licensed PFAs to suspend investment in commercial papers

'SEC lacks rules' -- PenCom asks licensed PFAs to suspend investment in commercial papers

Pension Insight: Actualising retirement dreams — a closer look at benefits payments in CPS

byThe Explainer

March 14, 2024

Low-earning pensioners can withdraw entire retirement savings, says PenCom

Low-earning pensioners can withdraw entire retirement savings, says PenCom

Pension Insight: Sustainability, savings culture and other innovations of CPS

byThe Explainer

March 7, 2024

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