The National Pension Commission (PenCom) has granted a licence to Nigerian University Pension Management Company (NUPEMCO).
A statement signed by the Head of PenCom’s Corporate Communication, Peter Aghahowa, released on Monday indicated that the licence would enable NUPEMCO to carry out the business of a Pension Fund Administrator (PFA).
“This approval is consequent upon a detailed evaluation of NUPEMCO’s compliance with the requirements, terms and conditions stipulated by the Commission,” the statement stated.
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NUPEMCO is expected to open Retirement Saving Accounts (RSAs) for its customers, manage their pension contributions and place them on retirement plans when they exit active service.
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