Pencom news

PenCom News!

The Pension Commission (PenCom) is a Nigerian government agency responsible for regulating and supervising the country's pension industry. Here are some recent news updates from PenCom:

Recent News

  1. PenCom Approves 12 New Pension Fund Administrators: The Commission has approved the registration of 12 new Pension Fund Administrators (PFAs) to operate in the Nigerian pension industry. This move is expected to increase competition and improve services to pensioners.
  2. PenCom Launches Online Pension Verification Portal: The Commission has launched an online portal for pension verification, allowing pensioners to verify their pension accounts and check their balances online.
  3. PenCom Increases Minimum Pension Contribution: The Commission has increased the minimum pension contribution from 7% to 10% of an employee's salary, effective from January 2023. This move is aimed at increasing the retirement savings of Nigerian workers.
  4. PenCom Partners with NSE to Promote Pension Investment: The Commission has partnered with the Nigerian Stock Exchange (NSE) to promote pension investment in the Nigerian capital market. This partnership aims to increase the investment of pension funds in the stock market.
  5. PenCom Warns Against Illegal Pension Schemes: The Commission has warned Nigerians against investing in illegal pension schemes, urging them to only invest in registered PFAs.

Upcoming Events

  1. PenCom's 2023 Pension Industry Conference: The Commission is set to host its 2023 Pension Industry Conference, which will bring together stakeholders in the pension industry to discuss industry trends and challenges.
  2. PenCom's 2023 Pension Awareness Week: The Commission will be hosting a Pension Awareness Week in October 2023, aimed at educating Nigerians on the importance of pension planning and savings.

Recent Press Releases

  1. PenCom's 2022 Annual Report: The Commission has released its 2022 Annual Report, highlighting its achievements and challenges in the pension industry.
  2. PenCom's 2023 Budget: The Commission has presented its 2023 budget to the National Assembly, outlining its plans and priorities for the year.

Stay tuned for more updates from PenCom!