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Circulars

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

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 […]

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

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 […]

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

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 […]

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

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 […]

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Re: Review of Programmed Withdrawal Template

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 […]

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

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

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Implementation Guidelines On RSA Multi-Fund Structure (Addendum)

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

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CIRCULAR ON LAGOS STATE BOND AS AN INVESTIBLE INSTRUMENT

The Lagos State Bond has been granted a no objection for inclusion as an investment instrument.

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CIRCULAR ON INCLUSION OF NIGER STATE BOND AS AN INVESTIBLE INSTRUMENT IN THE PENSION INDUSTRY

We write to inform you that the Commission has issued a letter of no objection for inclusion of the N21 Billion Fixed Rate Niger State Bond Series 1 as an […]

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CIRCULAR ON DISCLOSURE OF FUNDS UNDER CUSTODY

It has been observed from the review of �company� audited accounts so far submitted by PFCs, that funds under custody are usually not disclosed on the financials.

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CIRCULAR ON AUDITED ACCOUNTS

Posting of audited accounts on Operators’ website

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