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Circulars

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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CIRCULAR ON RISK MANAGEMENT

The following regulations are hereby issued: Guidelines for Risk Management Framework for Licensed Pension Operators.

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CIRCULAR ON ONLINE REGISTRATION BY EMPLOYEES

All employees in the Federal Ministries, Departments, Agencies, Military, Para-Military, Security Establishments and the Federal Capital Territory(FCT) who have opened their Retirement Savings Accounts (RSAs) with their chosen Pension Fund […]

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CIRCULAR ON APPOINTMENT OF PFC BY PFA

This Circular is for guidance in terms of the selection and appointment of PFCs. The appointment of PFCs shall be in line with the following guidelines:

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CIRCULAR ON OPENING RSA WITH PFAs No.3

Opening of Retirement Savings Accounts with Licensed Pension Fund Administrators (PFAs).

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CIRCULAR ON OPENING RSA WITH PFAs No.2

Opening of Retirement Savings Accounts with Licensed Pension Fund Administrators (PFAs) for the implementation of the contributory pension scheme.

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CIRCULAR ON OPENING RSA WITH PFAs No.1

Opening of Retirement Savings Account with Licensed Pension Fund Administrators(PFAs) for the implementation of the contributory pension scheme.

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CIRCULAR ON REQUIREMENTS FOR PFAS WITH FUNDS UNDER MANAGEMENT OF N100 BILLION & ABOVE

The significant growth in the size of pension assets and the changing dynamics of pension business has necessitated the need for the Commission to issue another circular in respect of […]

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CIRCULAR ON MINIMUM SHARE CAPITAL REQUIREMENT FOR LICENSED PENSION FUND ADMINISTRATORS (PFA)

The Commission has through its oversight function observed that the minimum paid up share capital of N150 million was no longer adequate to meet the operational expenses of a PFA […]

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CIRCULAR ON PROCEDURE FOR REGISTRATION OF STATE AND LOCAL GOVERNMENT EMPLOYEES(REVISED)

Please recall the commission’s earlier circular referenced PENCOM/INSP/CIR/PSP/11/01, which grants concessions to state to adopt a structured arrangement in the registration of States’ and Local Governments’ employees by assigning Pension […]

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CIRCULAR ON REVIEW OF PENSION RATES

Review of Pension rates in accordance with Section 173(3) of the constitution of the Federal Republic of Nigeria, 1999 as amended.

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CIRCULAR ON FCTA RETIREES

Payment of entitlements to retirees of the Federal Capital Territory Authority.

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CIRCULAR ON PAYMENT OF DIVIDEND BY LICENSED OPERATORS

The Commission has observed from the review of Company audited accounts that Operators do not seek the prior approval of the Commission before payment of dividends to shareholders. In view […]

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