Pension

PenCom Transfers N13.997million Into 228 NSITF Contributors’ Accounts

Director-General, National Pension Commission, Mrs Aisha Dahir-Umar

BY NKECHI NAECHE-ESEZOBOR–The National Pension Commission ( PenCom) has transferred ₦13,997million into the Retirement Savings Accounts of 228 workers, who contributed into the former Nigerian Social Insurance Trust Fund.

PenCom disclosed this in its third quarter 2022 report on ‘The transfer of Nigeria Social Insurance Trust Fund contributions to members RSAs.

The report stated, ” The Commission received 20 batches of applications to transfer NSITF contributions on behalf of 228 NSITF contributors for the sum of ₦15,455million  during the quarter under review but approval was granted to transfer ₦13,997million to RSAs of the 228 members.

While disclosing the update on the monthly NSITF Scheme Pensions’ during the quarter, the commission stated that it processed
pension payments totalling N40,674 million  in respect of 2,304 NSITF Pensioners.

“The total pension payment to NSITF pensioners’ from 2006 to end of the reporting period amounted to N5.295billion.”

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