Operators Plan Pension Account for Artisans

Operators in the Contributory Pension Scheme are putting in place measures that will help Nigerians in the informal sector to cultivate a savings habit and have retirement accounts. This was contained in a report on informal sector participation in the CPS, which was obtained from the National Pension Commission. “In the effort to encourage a…

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Voluntary pension contributions still very low – Susan Oranye

Susan Oranye is the Executive Secretary of Pension Fund Operators Association of Nigeria. She speaks about the challenges, achievements and future of Nigeria’s pension industry in this interview withSIMON EJEMBI How would you rate the Nigerian pension industry in comparison to other developing nations? Unfortunately, when it comes to the pensions Nigeria does not rate…

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PENCOM To Go After Errant Employers

National Pensions Commission (PenCom) is about to go after employers that fail to remit deductions from their workers’ salaries into their Retirement Savings Accounts. PenCom’s DG, Dr. Chinelo Anohu-Amazu, who briefed President Buhari yesterday, said they are working with the police to ensure that it happens. The police will work with a department in the commission devoted to enforcement…

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How To Have A Happy Retirement

‎You can’t just have a happy retirement, you have to make it happen, so here are some tips towards that: Start saving early and stick with it. This means getting a pension plan that works for you. You’re not going to work for life, so have a clear picture from the outset about how you’ll get…

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PenOp to accommodate over 70m workers

Determined to accommodate the over 70 million workers that are presently outside the Contributory Pension Scheme (CPS), the Pension Fund Operators Association of Nigeria (PenOp) amongst other strategies has commenced training operators for the enrollment of workers from the informal, private and public sectors. A statement by the Executive Secretary PenOp, Ms Susan Oranye, noted…

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How Safe Is It To Have A Pension Plan In Nigeria?

Millions of Nigerians are heading toward defectively funded retirement, leaving a lot of them cynical about pension plans in the country and how the pension system works because they don’t want to lose their many years of labour to shylocks. Without sufficient income, mostly older adults who eventually rely on pension will lack the resources…

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