8. What would happen to a PFA that fails to comply with the provisions of the PRA 2014 on investment and the Regulation on Investment issued by PenCom? – PensionNigeria

8. What would happen to a PFA that fails to comply with the provisions of the PRA 2014 on investment and the Regulation on Investment issued by PenCom?

Any PFA who fails to comply with the provisions of the PRA 2014 on investment shall be liable to a penalty of an amount to be determined by PenCom, but in any case, shall not be more than N500,000.00 for each day the non-compliance continues and the PFA shall forfeit the profit from that investment to the beneficiaries of the RSA and if the investment has led to a loss, the PFA shall be made to make up for the loss.

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