14. Are my pension contributions safe? – PensionNigeria

14. Are my pension contributions safe?

PenCom ensures that pension contributions are safe. This is achieved through the separation of the investment and custody functions between PFAs and PFCs. Furthermore, there is effective monitoring and supervision through daily monitoring of the investment decisions made by the PFAs in order to ensure compliance with the PRA 2014 and the Investment Regulation. Moreover, there are stringent provisions in the Regulations for the Investment of Pension Fund Assets, that ensures the ring fencing of the assets and allowing investments only in instruments with minimal risks. There is also a sealed guarantee such that in case of any infraction, the PFC or its parent company will pay any amount that may be lost due to the infraction.

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