PenCom Directs PFAs to Implement Pension Enhancement For Retirees On Programmed Withdrawal Under CPS

By LOVETH AZODO, Lagos

The National Pension Commission has directed all Pension Fund Administrators (PFAs) to implement the second edition of the pension enhancement exercise for retirees on Programmed Withdrawal mode of retirement.

The commission announced this in a statement signed by its Head Corporate Communications Department, Peter Aghahowa.

According to the statement, pension enhancement is for Contributory Pension Scheme (CPS) retirees who have accumulated significant growth in their Retirement Savings Accounts (RSAs) and had retired between July 2007 and December 2017.

“Accordingly, the retirees referred to above are by this notice advised to contact their respective Pension Fund Administrators (PFAs) to confirm their eligibility and complete requisite documentations.” It stated.