It has come to the Commission’s attention that some State Governments, as employers, have been requesting for deductions to be made from the Retirement Savings Account (RSA) balances of their […]
Read MoreTransparency is one of the core values of the Commission which has been encouraged amongst the operators. As a regulatory philosophy, the Commission has adopted a stakeholder approach in its […]
DownloadThe purpose of the guidelines is to provide general guidance on transitional matters for both the public and private sectors relating to the implementation of the Pension Reform Act 2004.
DownloadThe Pension Reform Act, 2004 (the Act) provided that contributions into the NSITF scheme (the Scheme) together with accrued income shall be transferred into members. Retirement Savings Accounts (RSAs) after […]
DownloadThese Guidelines seek to standardize procedures to be adopted by Closed Pension Fund Administrators (CPFAs) and Pension Fund Administrators (for Approved Existing Schemes) that operate Defined Benefit Schemes and have […]
DownloadMany employers in their effort to comply with the Pension Reform Act 2004 (Act) have demonstrated strong commitment by remitting regularly the pension contributions of employees who have opened RSAs […]
DownloadThe Pension Reform Act, 2004 (the Act) provided that contributions into the NSITF scheme (the Scheme) together with accrued income shall be transferred into members. Retirement Savings Accounts (RSAs) after […]
DownloadSection 30 of the Pension Reform Act, 2004 established for the Public Service of the Federation and the Federal Capital Territory, Pension Departments to be known as the Pension Transitional […]
DownloadThe need for the issuance of a Guideline in respect of appointment of Pension Fund Custodians (PFCs) by Pension Fund Administrators (PFAs) has arisen as a result of the growing […]
DownloadA continuous process of effective risk management is critical to the safety and soundness of the operations of Pension Fund Administrators and Custodians. Furthermore, Section 66 of the PRA 2004 […]
DownloadOne of the functions of the Pension Fund Administrators (PFAs) according to the PRA 2004, section 45(a) is to open Retirement Savings Accounts for all employees and obtain Personal Identification […]
DownloadThese Guidelines are issued to form a basis for the appointment of PFAs by companies with approved existing schemes and to limit the assets of approved existing schemes that can […]
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