April 1, 2023



PenCom approves enhance in month-to-month pension for retirees

The Nationwide Pension Fee (PenCom) has accepted the rise of month-to-month pensions for retirees on “programmed withdrawal” beneath the contributory pension scheme (CPS).

The fee mentioned this in an announcement issued just lately.

In keeping with PenCom, that is the third version of pension enhancement beneath the CPS.

PenCom additionally mentioned the brand new enhance will take impact in February, 2023.

Nevertheless, it urged all eligible retirees to contact their pension fund directors (PFAS) to finish all required documentation.

“PenCom is happy to tell most people that the third version of pension enhancement beneath the contributory pension scheme (CPS) has been accepted, ” the assertion learn.

“The train is for present retirees beneath programmed withdrawal who’ve gathered vital development of their retirement financial savings accounts (RSAs).

“The efficient graduation date of the enhancement is February 2023. All related retirees are, by this discover, suggested to contact their respective pension fund directors (PFAS) to finish the required documentation.”

PecCom, due to this fact, assured all stakeholders of its dedication to the efficient regulation, supervision, and administration of pension issues in Nigeria.

In the meantime, the fee commenced the 2023 on-line verification and enrollment train for retirees/potential retirees of the federal authorities treasury-funded ministries, departments, and businesses (MDAs) on October 17, 2022.

It suggested retirees/potential retirees who’re unable to finish the net registration for any cause ought to method the pension desk officer of their respective MDAs or go to their PFAs for help.

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