April 1, 2023



PenCom to boost retirees’ month-to-month pension from February 2023

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

The fee mentioned this in a latest assertion issued in Abuja.

In response to PenCom, that is the third version of pension enhancement underneath the CPS.

PenCom additionally mentioned the brand new improve 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 of the people that the third version of pension enhancement underneath the contributory pension scheme (CPS) has been accepted,” the assertion reads.

“The train is for current retirees underneath programmed withdrawal who’ve collected important progress 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 companies (MDAs) on October 17, 2022.

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

PenCom added that the verification and enrollment train will finish on or earlier than December 31, 2022.

See also  Six corporations elevate N246.28bn company bonds in 6 months