Nigeria’s Pension Commission (PenCom) has named Stanbic IBTC Bank as one of the banks to process Retirement Savings Account (RSA) backed mortgages. PenCom’s RSA Backed mortgage initiative allows contributors to use up to 25% of their contribution as equity to…
N8.7tn pension fund: PenCom bars PFAs from investing in bonds issued by nine states (Punch)
The National Pension Commission has barred pension fund administrators from investing in the bonds of nine states that have yet to amend their state pension laws and join the Contributory Pension Scheme. Findings also revealed that this restriction might be…
SFS Fixed Income Fund affirmed “AA(f)” rating by DataPro
SFS Fixed Income Fund (“the Fund” or “SFS FIF”) has been affirmed a rating of “AA(f)” by DataPro Limited, a leading and experienced credit rating and compliance consulting firm in Nigeria. According to DataPro, the long term rating of “AA(f)”…
PenCom approves 6,851 applications for annuity retirement plan in Q4, 2017 (Daily Independent)
The National Pension Commission (PenCom) says it approved 6,851 applications for annuity retirement plan in fourth quarter of 2017. According to the commission, the number brings to 48,539, the total number of retirees receiving their retirement benefits via annuity. The…