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Tag Archives: PENCOM

FG deploys over N5 trillion pension funds in infrastructure

pension

Eleven years after it was created, the Federal Government and states have cornered over N5 trillion from workers’ pension contributions under the Contributory Pension Scheme for infrastructure development and other financial commitment. The amount received through investment in their various capital market instruments represents over 70 per cent of the N8 trillion pension assets currently being managed by Penson Fund ...

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Stanbic IBTC Pension Managers invests N350bn in equity market to access mortgage facilities

Stanbic IBTC

Stanbic IBTC Pension Managers Ltd. (SIPML) says the company’s Assets Under Management (AUM) presently stands at N2.53 trillion with N350 billion invested in the equities market. Eric Fajemisin, SIPML Chief Executive Officer, stated this at a media conference in Lagos. He said that the company’s AUM was in excess of N2.53 trillion with over 1.6 million retirement savings accounts across ...

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Pencom declares FG has invested 2.89% pension in real estate

pencom

About N224.30 billion of pension funds representing about 2.89 per cent of pension assets has been invested in the real estate sector of the economy going by statements from the National Pension Commission (PenCom). PenCom’s decision followed pressures from stakeholders urging the regulator not to allow pension funds to be lying idle in the vault but to allow Pension Fund ...

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Global Summit set to Ensure Pension Funds are Invested in the Real Sector

The Director-General of the National Pension Commission (PenCom), Mrs Chinelo Anohu-Amazu

The Director-General of the National Pension Commission (PenCom), Mrs Chinelo Anohu-Amazu, said the World Pension Summit Africa Special that will kick off in Abuja next week will deepen the discussion around ensuring that pension funds were invested in the real sector for visible and measurable impact on the economy, while also boosting retirement benefits, Vanguard reports. Anohu-Amazu said she was ...

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Pension Funds To Be Invested In Real Estate

Pension Funds To Be Invested In Real Estate

The National Pension Commission is set to allow Pension Funds Administrators to invest the growing pension assets in the housing industry, particularly the real estate, in addition to investing it in infrastructure. As of October 2015, the total pension assets under the Contributory Pension Scheme had risen to N5.14tn. While the PFAs have invested these funds in different classes of ...

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PenCom issues guidelines on withdrawals from retirement account for mortgage payment

PENCOM

The National Pension Commission (PenCom) has announced guidelines on withdrawals from Retirement Saving Accounts (RSA) for residential mortgage payment. These guidelines are contained in a document issued by the PenCom last week. In the 2014 Pension Reform Act, the commission had made provision for  Retirement Saving Accounts (RSA) holders to access part of their pension contribution for mortgaged financing. “Section ...

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