• About
  • Advertise
  • Privacy & Policy
  • Contact
Monday, June 2, 2025
Bislad News
  • Login
  • Home
  • Politics
  • Insurance
  • Pension
  • Paper Presentation
  • Opinion
  • Back In The Days
  • News
  • Business
  • Features
  • Photo Gallery
  • Sports
No Result
View All Result
  • Home
  • Politics
  • Insurance
  • Pension
  • Paper Presentation
  • Opinion
  • Back In The Days
  • News
  • Business
  • Features
  • Photo Gallery
  • Sports
No Result
View All Result
Bislad News
No Result
View All Result

Retirement Benefits : PenCom Disburse N117.89 bn To Retirees In Q4 2023, Up By 22.88%

by Bisi Bamishe
April 12, 2024
in Pension
PenCom, SEC Partner  To  Develop Commodities Ecosystem

PenCom DG, Aisha Dahir-Umar

Share this:

By  Bisi Bamishe

National Pension Commission (PenCom), disbursed N117.89 billion as retirement benefits to retirees in the fourth quarter of 2023, representing 22.88% increase as against N95.94 billion recorded in the third quarter of 2023.

According to PenCom, the increase was as a result of higher lump-sum and annuity premium payments made during the period under review.

The data obtained from PenCom quarterly report, showed that the Commission approved 6,592 requests, while six were rejected due to wrong computations of lump sum or monthly pensions.

Read Also:

Anthonia Ifeanyi-Okoro Becomes PenOp Chief Operating Officers

Pension Industry Hosts Knowledge Session on “Demystifying Non-Interest Shari’ah-Compliant Investments.

On programme withdrawal mode, the Commission said that Pension Fund Administrators submitted 6,598 requests for retirees to draw down on their pension through Programmed Withdrawal mode during the period.

Out of the 6,592 retirees whose benefits were approved, 2,860 were from the private sector, while 3,732 were from the public sector. A lump sum of N34.38 billion was approved for the 6,592 retirees, while their monthly pension was N488.19 million.

Retirement Savings Account (RSA), membership also grew with 88,213 new RSAs registered and associated PINs issued to employees across sectors.

A breakdown of the data shows that Stanbic IBTC Pension Managers maintained a dominant market share of 24 per cent with 21,212 contributors registered, followed by Access Pensions Limited, which had 19.9% with 17,573 new registered. ARM Pension Managers Ltd, Leadway Pensure PFA Ltd and Premium Pension Ltd followed with 9.4%, 8.1%, and 6% of the new registrations during the quarter respectively. Consequently, the top five (5) PFAs collectively held about 67.39% while the bottom five (5) PFAs recorded an aggregate of 5.38% of the 88,213 new RSAs registered in Q4:2023.

Previous Post

EAGSGSOGA (UK) Set To Commission Vocational Centre For Alma Mater April 17.

Next Post

April 25th : Countdown To 2024 Inspenonline Retirement Summit ln Lagos.

Bisi Bamishe

Bisi Bamishe

I am a journalist with many years of experience in the field of Insurance and Pension. In 2003, I won Nigeria Media Merit Award of the IGI's Prize For Insurance Reporter of The Year

Related Posts

Anthonia Ifeanyi-Okoro Becomes PenOp Chief Operating Officers
Pension

Anthonia Ifeanyi-Okoro Becomes PenOp Chief Operating Officers

May 28, 2025
Enlightenment  Campaign : Pension lndustry Radio Program Debuts April 27.
Pension

Pension Industry Hosts Knowledge Session on “Demystifying Non-Interest Shari’ah-Compliant Investments.

May 28, 2025
PenCom needs strong board to sustain pension sector growth – Takor
Pension

CPS: PenCom lssues New Directive To LPFOs

May 23, 2025
Leadway Pensure PFA Advocates Additional Voluntary Contributions For Future-Proof Financial Security
Pension

Strengthening Pension Systems: Leadway Pensure PFA Advocates Inclusion at Inspensonline Retirement Summit 2025

May 15, 2025
Leadway Pensure PFA Advocates Additional Voluntary Contributions For Future-Proof Financial Security
Pension

Leadway Pensure PFA Advocates Additional Voluntary Contributions For Future-Proof Financial Security

April 2, 2025
Reps Committee Probes Alleged Non-Remittance Of Pension Contribution
Pension

Reps Committee Probes Alleged Non-Remittance Of Pension Contribution

February 20, 2025
Next Post
April 25th : Countdown To 2024 Inspenonline Retirement Summit ln Lagos.

April 25th : Countdown To 2024 Inspenonline Retirement Summit ln Lagos.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent News

NLNG Launches Human Capital Development Programme Under Train 7 Project

NLNG Launches Human Capital Development Programme Under Train 7 Project

2 days ago
AIICO Insurance Brings Joy And Hope to Visually Impaired Children on Children’s Day

AIICO Insurance Brings Joy And Hope to Visually Impaired Children on Children’s Day

4 days ago
Anthonia Ifeanyi-Okoro Becomes PenOp Chief Operating Officers

Anthonia Ifeanyi-Okoro Becomes PenOp Chief Operating Officers

5 days ago
Enlightenment  Campaign : Pension lndustry Radio Program Debuts April 27.

Pension Industry Hosts Knowledge Session on “Demystifying Non-Interest Shari’ah-Compliant Investments.

5 days ago

Bisladnews.com is an online publication of Bislad Communication Network Company. It is a news platform dedicated to providing top news.

Follow Us

Browse by Category

  • Back in the days
  • Business
  • Features
  • Insurance
  • Interview
  • News
  • Opinion
  • Paper Presentation
  • Pension
  • Photo Gallery
  • Politics
  • Sports
  • Uncategorized

Recent News

NLNG Launches Human Capital Development Programme Under Train 7 Project

NLNG Launches Human Capital Development Programme Under Train 7 Project

May 31, 2025
AIICO Insurance Brings Joy And Hope to Visually Impaired Children on Children’s Day

AIICO Insurance Brings Joy And Hope to Visually Impaired Children on Children’s Day

May 29, 2025
  • Home
  • Politics
  • Insurance
  • Pension
  • Paper Presentation
  • Opinion
  • Back In The Days
  • News
  • Business
  • Features
  • Photo Gallery
  • Sports

©2024 - Bislad News

No Result
View All Result
  • Home
  • Politics
  • Insurance
  • Pension
  • Paper Presentation
  • Opinion
  • Back In The Days
  • News
  • Business
  • Features
  • Photo Gallery
  • Sports

©2024 - Bislad News

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In