CIRCULAR ON REVISED MINIMUM SHARE CAPITAL REQUIREMENT FOR LICENSED PFAs

• April 30, 2021

CIRCULAR ON RECLASSIFICATION AND VALUATION OF PENSION FUND ASSETS UNDER INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS 9)

• February 10, 2021

As a follow up to the Commission’s letter of 5 November, 2020 on the above subject matter, we write to clarify and direct as follows:

Circular on Fund Accounting

• November 12, 2020

This Fund Accounting Circular is for reporting the Accounting Entries for the transfer of RSA from one PFA to another and the purchase of RLA by Retirees with their RSA […]

Circular on Reprogramming RSA Balance

• August 14, 2020

Procedure for reprogramming RSA balances of Retirees already on programmed withdrawal exercising their rights to transfer to Retiree Life Annuity…

Revised Circular on Management of the Statutory Reserve Fund

• March 23, 2020

Further to the Commission’s Circular Referenced PENCOM.INSP/CIR/SURV/15/15 of 22 October, 2015 on management of the Statutory Reserved Fund,  the Commission has observed the need to revise the Investment Limits in […]

DIRECTIVE TO LICENSED PENSION FUND OPERATORS ON SHARING AND TREATMENT OF BROKERAGE COMMISSION ON ALL BOND TRANSACTIONS

• October 30, 2019

The Securities and Exchange Commission (SEC) has through a Circular dated 27 July 2019 directed that only Capital Market Operators duly registered by SEC are eligible to be paid brokerage […]

Addendum to the Circular on the Revised Procedures on the Processing of Death Benefits

• October 9, 2019

Circular on the Implementation of the Requirement for the Provision of the Fidelity Insurance Cover for Employees of PFAs/PFCs

• June 26, 2019

Section 69 (f) of the Pension Reform Act (PRA 2014) mandates Pension Fund Administrators (PFAs) and Pension Fund Custodians (PFCs) to provide annual Fidelity Insurance Cover for all staff to […]

Issues on the Transition from the Contributor Registration System (CRS) to the Enhanced Contributor Registration System (ECRS)

• June 26, 2019

PFAs would recall the various engagements of the Commission during the process of the development of the Enhanced Contributor Registration System (ECRS), and their subsequent participation in the pilot test […]

Re: Circular on Forwarding of Requests for Refund of Pension Contributions to Employees of States and Local Governments By Pension Fund Administrators

• October 4, 2018

It has come to the Commission’s attention that following the Circular referenced INSP/CIR/SOD/18/01 of 31 August 2018, some Pension Fund Administrators have been refusing to execute the approvals granted by […]

Re: Review of Programmed Withdrawal Template

• October 4, 2018

Further to the Circular Ref. PENCOM/INSP/CIR/Surv/18/21 dated 8 August 2018, suspending the use of the Revised Programmed Withdrawal Templates (PWT), you are by this circular requested to revert to the […]

Circular on Forwarding of Requests for Refunds in Respect of Employees of States and Local Governments by PFA

• September 3, 2018

This is to inform all Pension Fund Administrators that henceforth all requests for approvals

Implementation Guidelines On RSA Multi-Fund Structure (Addendum)

• July 16, 2018

Re:Implementation Guidelines on Retirement Savings Account (RSA) Multi-Fund Structure (Addendum).

Second Addendum to Circular on PFAs with Funds under Management of N100 Billion and Above

• January 24, 2018