Browsing: contributory pension scheme

This was sequel to PenCom’s submission to the President on the payment of some critical aspects of the outstanding pension liabilities of the Federal Government under the Contributory Pension Scheme.

The Head Corporate Communication, PenCom, Peter Aghahowa, made this known in a statement in Abuja on Monday.

Most states across the six geopolitical zones in the country are yet to fully implement the Federal Government’s Contributory Pension Scheme, a report by the National Pension Commission has revealed.

The Kano State Government has inaugurated a 12-member technical committee on contributory pension scheme to fashion new ways for remittance and payment of gratuities.

The National Pension Commission has issued new guidelines to regulate the operation of Voluntary Pension Contributions under the Contributory Pension Scheme.

The Lagos State Government says it has released over N2 billion to off-set its pensioners’ obligation under the Contributory Pension Scheme in the last three months.

However, during his speech at this year’s Workers Day, the Governor said the state government had paid over 1,000 pensioners about N2 billion.

A statement signed by the Osun Head of Service, Dr Olowogboyega Oyebade in Osogbo, said no fewer than 210 civil servants would receive their bond certificates on Tuesday at the state secretariat.

A statement by Folashade Onanuga, the Director-General, Lagos State Pension Commission, said the money was released to pay 183 retirees under the Contributory Pension Scheme.

A statement by the Lagos State Pension Commission, signed by its Director-General, Folashade Onanuga, said that the amount was paid to 141 retirees under the Contributory Pension Scheme.

Lawl said: “As at September, 2017, LASG paid more than N80 billion into the Retirement Savings Accounts of its retirees since the commencement of the Contributory Pension Scheme in 2007.’’ 

The Acting Director-General of the National Pension Commission, Aisha Dahir-Umar, made this known in an interview with the News Agency of Nigeria in Lagos.

Government now contributes 10.5 percent as against the 7.5 percent earlier approved in 2007 when the scheme started, while the employees contribution of 7.5 percent is maintained. 

The News Agency of Nigeria reports in Minna on Wednesday that the bill was passed by the state House of Assembly in 2015, after it was presented to the state legislative arm.

He said the composition of Contributory Pension Scheme Board was awaiting the nomination and confirmation of the private sector representatives.

This was disclosed on Wednesday by the Minister of Finance, Kemi Adeosun

In the survey conducted by the News Agency of Nigeria across states of the federation, some respondents, however, commended the Federal Government for initiating the scheme

The management called on members of the public not to engage in panic buying, assuring further that plans were on top gear to address the situation

The directive, which states, among other things, that staff of FAAN opting to retire under the Defined Benefits Scheme should do so between now and March 31, 2014, implies that anyone who chooses to remain in service after the said date will be migrated to the Contributory Pension Scheme automatically