02. What happens if a PFA fails or is liquidated? – PensionNigeria

02. What happens if a PFA fails or is liquidated?

Pension funds and assets are kept in safe custody by the PFC and, as such, the liquidation of the PFA will not affect the funds and assets. In such situations, PenCom will transfer the records of the failed or liquidated PFA to another PFA. In addition, every PFA is expected to maintain a statutory reserve fund, from its earnings, as contingency fund to meet claims for which it may be liable.

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