Tag: #PenCom
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PENCOM MOVES TO RESOLVE PENSION DISPUTE AMONG LAGOS RETIREES
The National Pension Commission (PenCom) says it is engaging the Lagos State Government and relevant stakeholders to address concerns over delays in implementing pension increases and wage awards for retirees under the Contributory Pension Scheme (CPS). In a statement on Monday, PenCom acknowledged concerns raised by Lagos pensioners and assured eligible retirees that efforts were…
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ORGANISED PRIVATE SECTOR OPPOSES PROPOSED PENSION CONTRIBUTION INCREASE
The Organised Private Sector of Nigeria (OPSN) has called on the Federal Government and the National Pension Commission (PenCom) to suspend plans to increase mandatory pension contributions, warning that the proposal could worsen the challenges facing businesses and workers. The group, which includes MAN, NACCIMA, NECA, NASME, NASSI and other employer associations, argued that the…
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PENCOM LAUNCHES FREE HEALTHCARE SCHEME FOR LOW-INCOME PENSIONERS
The National Pension Commission (PenCom) has introduced a free healthcare initiative for low-income pensioners under the Contributory Pension Scheme. In a statement, PenCom said the programme—known as PenCare is designed to reduce medical costs and improve the wellbeing of retirees. The scheme targets retirees aged 60 and above who earn less than N70,000 monthly from…
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PENSIONERS MARK 9 YEARS, DEMAND FULL RIGHTS AND UNPAID PALLIATIVES
After nearly a decade of struggle, CPS retirees say they’re stronger — but still not done fighting. The Nigeria Union of Pensioners Contributory Pension Scheme Sector (NUPCPS) has reaffirmed its commitment to protecting members and strengthening Nigeria’s Contributory Pension Scheme (CPS). Speaking at the union’s 9th anniversary in Abuja, National Chairman Sylva Nwaiwu said the…
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PENCARE LAUNCHED: NEW HEALTHCARE INITIATIVE TO BOOST RETIREES’ WELLBEING
Mrs. Omolola Oloworaran, Director General of the National Pension Commission (PenCom), has unveiled the Board of Trustees for the Pension Industry Health Care Initiative (PenCare), aimed at providing quality and affordable healthcare to retirees under the Contributory Pension Scheme (CPS). The launch, held in Abuja, marks a new era of social protection focused on not…
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NLC PUSHES TO DOUBLE RETIREMENT SAVINGS WITHDRAWAL LIMIT TO 50%
The Nigerian Labour Congress (NLC) is calling for an increase in the Retirement Savings Account (RSA) withdrawal limit from 25% to 50% to help workers meet urgent financial needs like education, healthcare, and agriculture. NLC President Comrade Joe Ajaero made the demand during a roundtable with the National Pension Commission (PenCom) in Abuja. Ajaero also…
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NIGERIA’S PENSION SCHEME TRANSFORMS RETIREMENT SECURITY, PENSIONS HIT N14.8B MONTHLY
PenCom’s CPS boosts coverage and benefits while ensuring timely payments and better welfare. PenCom DG Omolola Oloworaran hailed Nigeria’s Contributory Pension Scheme (CPS) for revolutionizing pensions over 20 years, covering 10 million Nigerians and growing assets to over ₦25 trillion. Monthly pensions rose from ₦12.16 billion to ₦14.84 billion in June 2025, with zero waiting…
