Sunday, September 26, 2021

PenCom approves new pension scheme for university workers

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The National Pension Commission, PenCom, has issued a licence to the Nigerian University Pension Management Company Ltd, NUPEMCO, to carry out the business of a Pension Fund Administrator, PFA, in universities.

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PenCom’s Head of Corporate Communication, Peter Aghahowa in a statement on Monday in Abuja said the approval was based on detailed evaluation of NUPEMCO’s compliance with the requirements stipulated by the Commission.

READ ALSO: PENCOM to inaugurate micro pension scheme in 2019

The News Agency of Nigeria reports that NUPEMCO was earlier set up to manage the retirement benefits of staff in Nigerian universities.

It has the mandate to improve the post working standards of staff of Nigerian universities.

READ ALSO:   PenCom directs PEAs to implement new pension policy on retirees from 2007 to 2017


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