NKECHI NAECHE-ESEZOBOR--The National Pension Commission (PenCom), said it processed and approved Five Pension Fund Administrators (PFAs) requests for contingent withdrawals of N644,368.94million from eight Micro Pension contributors during the first quarter of 2022.
This is contained it’s its first quarter report of 2022 released recently on its official website, the commission also disclosed that 69 micro pension contributors converted to Contributory Pension scheme with a total of
N245,805.93million transfered from Micro Pension fund (Fund V) to RSA Active Funds (Funds II & III).
Meanwhile, eighteen Pension Fund Administrators (PFAs) registered 2,897 contributors under the Micro Pension Plan (MPP) during the first quarter of 2022.
According to the commission, this brought the total number of Micro Pension contributors to 76,588 as at 31
March 2022.
The commission further said that a total of N34.53 Million was credited into the RSAs of
8,668 MPP contributors in Q1 2022, bringing the total value of the Micro Pension
Fund to N263.57 Million as at 31 March 2022.
The commission also said it issued a total of 10,541 Pension Compliance Certificates, PCC, to organizations in the first quarter of 2022.
The commission received 11,200 applications from private sector organizations for the issuance of PCCs. Out of this number, 659 applications were in the approval process as at 31 March 2022.
The records showed that the 10,541
organizations had remitted a total sum of N59,39 Billion into the Retirement
Savings Accounts (RSAs) of their employees, totaling 45,170.
