PenCom Nigeria Circulars

PenCom Circular on Pension Rate Review for Federal Agencies

The National Pension Commission (PenCom) has issued a circular directing all Federal Government Self-funded Agencies to review and implement pension rate increases for eligible retirees. This action aligns with Section 173(3) of the Nigerian Constitution and the Pension Reform Act 2014, following previous government-wide pension adjustments.

PenCom: Revised Documentation for Data Recapture Exercise

The National Pension Commission (PenCom) has issued a circular revising documentation requirements for RSA holders participating in the data recapture exercise. This update simplifies the process for active contributors, retirees, and those with name or date of birth changes, effective immediately.

PenCom Circular on Personal Pension Plan Contribution Categorisation

The National Pension Commission (PenCom) has issued a circular directing Pension Fund Administrators (PFAs) to distinctly categorise contributions under the Personal Pension Plan (PPP). PFAs must now differentiate between 'Self-Contributions' and 'Employer-Remitted Contributions' in all reporting and statements, effective immediately.

PenCom Approves Fees for Pension Funds and Agents

The National Pension Commission (PenCom) has issued a circular approving new fee structures for the Foreign Currency Pension Contributions Fund (Fund VII), Personal Pension Plan Fund (Fund V), and a compensation framework for Accredited Pension Agents (APAs). The circular details specific fee rates, conditions for charging fees, and performance-based compensation for agents, effective immediately.