Category: Pension

CPS: Male contributors maintain 59% dominance

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  Latest report by the National Pension Commission (PenCom) has revealed that male workers have continued to lead in their pension contributions under the new pension scheme, New Telegraph has learnt.   According to checks, the data, compiled by the commission as at September 30, 2018, shows that the male contributions to their Retirement Savings Accounts (RSAs) is 59 per cent higher than that of females.   While the number of male contributors stands at 5,846,166, that of the female c is 2,425,782. The total makes up the current figure…

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NSITF: PenCom effects N43.81bn transfer into workers’ RSAs

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Following its prudent supervision of activities at the Nigeria Social Insurance Trust Fund (NSITF), the National Pension Commission (PenCom) perfected the transfer of N43.81 billion from the fund to workers’ Retirement Savings Accounts (RSAs) during the third quarter of the current year.   According to a report obtained by New Telegraph, the amount covers 635 NSITF members’ applications received during the quarter under review.   The report noted that all applications were processed and computed amounts were transferred to the RSAs of the NSITF members.   “From inception to date,…

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CPS: Retirees’ account active fund records net growth of N181.43bn

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The Net Assets Value (NAV) of the Retirement Savings Account ‘Active’ Fund under the Contributory Pension Scheme (CPS) has recorded a net growth of N181.43 billion (3.39 per cent).   Findings by New Telegraph revealed that the figures under the scheme’s portfolio performance moved from N5.35 trillion as at March 31, 2018 to N5.53 trillion as at June 30, 2018.   In the same vein, the RSA ‘Active’ fund recorded a Weighted Average Rate of Return (WARR) of 8.17 per cent (annualised) as at second quarter 2018, representing a significant…

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