SIGN IN YOUR ACCOUNT TO HAVE ACCESS TO DIFFERENT FEATURES

CREATE AN ACCOUNT FORGOT YOUR PASSWORD?

FORGOT YOUR DETAILS?

AAH, WAIT, I REMEMBER NOW!

CREATE ACCOUNT

ALREADY HAVE AN ACCOUNT?

Magnartis Finance & Investment Limited

  • LOGIN
  • Home
  • About
    • About Us
    • Management Team
    • Directors
  • Services
    • Stockbroking
    • Portfolio Management
    • Corporate Finance
    • Advisory Services
  • Projects
  • Download
  • Contact
  • Open an account
  • Home
  • PENCOM assets hit N4.6trn in 10 years
  • Capital Market News
  • PENCOM assets hit N4.6trn in 10 years
 

PENCOM assets hit N4.6trn in 10 years

PENCOM assets hit N4.6trn in 10 years

by magna / Thursday, 22 January 2015 / Published in Capital Market News

National-Pension-Commission-PenCom-logo

BY BIMBOLA OYESOLA

The National Pension Commission (Pen­Com), said it has gen­erated over N4.6 trillion in the Contributory Pension Scheme (CPS), since incep­tion in 2004.

Speaking at the opening cer­emony of a two-day workshop on the 2014 Pension Reform Act (PRA) with the theme, “New Pension Act 2014, its Implications and Obligations to both Employers and Em­ployees in Nigeria” organised in collaboration with Lagos Council of Nigeria Labour Congress (NLC), the Direc­tor General of PenCom, Mrs. Chinelo Anohu-Amazu, said the coverage of the CPS in­cluded employees in the public service of the federal, states and local governments as well as the private sector organisa­tions with three or more em­ployees.

Represented by Mr. Mo­hammed Bello Umar, the com­mission’s Head of Compliance and Enforcement Department, she recalled that the pension reform started in 2004 with the passage of PRA 2004, which provided for a uniform pension system for both public and pri­vate sectors.

According to her, “the CPS has been successfully imple­mented since then and the fund under management has grown to about N4.6 trillion while membership is over six mil­lion.

She explained that the cov­erage of the CPS include em­ployees in the public service of the federal, states and local governments as well as the pri­vate sector organisations with three or more employees.

The PRA 2014, she added, strengthened the powers of the commission to perform its mandate of regulation and supervision of all pension mat­ters, stating that it would fur­ther protect and create value for the contributor.

Source : SunOnline

About magna

What you can read next

Shock, violence trail Euro 2016
Ikeja Electric Commences New Tariff, Assures Enhanced Service Delivery
Foreign reserves up by $2.88bn in 1 month – Emefiele

Market Capitalization

[visualizer id="161"]

Newsletter Subscription


 

About Us

Magnartis Finance & Investment Ltd (“Magnartis”) is a Dealing Member of The Nigerian Stock Exchange with expertise in Stockbroking and Trade Execution Services.

Download

  • FGN Savings Bond Subscription Form
  • Mandate For Ebonus
  • Cscs Clients Authorization Form For Change Of Bank
  • Cscs Client Bank Update Form
  • Account Opening Form KYC

Research

  • Daily Price List
  • Daily Market Summary
  • Weekly Market Summary
  • Special Reports

Contact Info

16, Boyle Street, Onikan, Lagos, Nigeria

Office Number:
01-4538066

E-mail:
info@magnartis.com

  • GET SOCIAL

© 2014 Magnartis Finance & Investment Limited. All Right Reserved

TOP