• Contact Us
  • About
  • Advertise
  • Privacy & Policy
Sunday, January 29, 2023
  • Login
  • Register
Business Post
E3P Motor Insurance
  • Home
  • Insurance
  • Pension
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
  • Home
  • Insurance
  • Pension
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
No Result
View All Result
Business Post
No Result
View All Result
Home Pension

Zamfara Ignores N0.7bn Gain On CPS Contributions Returns To CDBS

Nwanne Ikemefune by Nwanne Ikemefune
November 28, 2022
in Pension
0 0
0
Zamfara Ignores N0.7bn Gain On CPS Contributions Returns To CDBS
0
SHARES
19
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

Zamfara State Government repealed the contributory pension scheme CPS and returned to contributory defined benefit scheme CDBS, rating the latter its preferred pension scheme, despite the N0.7bn returns turned in by pension fund administrators PFAs from the state pension contributions.

The door was opened for the CDBS to take charge following the repeal of the State law on the CPS and enactment of a new law on CDBS, this was contained in the National Pension Commission (PenCom) Second Quarter 2022 Report.

Following the throwing of spanner in the works of contributory pension scheme by the state government repeal and enactment of a new pension law, PenCom announced in the Report that refund of pension contributions to the state government and its employees has been concluded.

It was striking that the N794.18 million generated as income on the N3.85bn pension contributions while the moribund CPS law lasted was not impressive enough to sustain its operation. The principal was the contributions received by eleven (11) PFAs that operated in the state.

PenCom cleared that, “A total sum of N4,274,345,932.78bn had since been refunded to the Zamfara State Government and its employees in line with the provisions of Section 55(2) of the Zamfara State and Local Government Pension Scheme Law 2019, while the sum of N379,226,546.10 million was retained in the RSAs of employees that secured jobs with other employers.”

Previous Post

Fire, Explosion, Inflation and Sinking Top Causes Of Marine Loss – Allianz

Next Post

Govt Charged To Devote 2% Of Budget For Assets Cover, Insurers Tasked On Creative Media Content Hub

Nwanne Ikemefune

Nwanne Ikemefune

Related Posts

Preferred PenCom Logo
Pension

PenCom Gets The Endorsement Of Civil Society Listed In Top MDAs

December 20, 2022
PenCom Primes Safety Of Pension Funds Non Negotiable
Pension

PenCom Management Dares ‘Frivolous’ Petitioners, Welcomes Scrutiny

December 19, 2022
PenCom Trigger Lifts Transfer System Off The Starting Block With Split Responsibilities
Pension

PenCom Hinges Success Of Equity Contribution Mortgage On Integrity, Background Checks

December 14, 2022
Next Post
Govt Charged To Devote 2% Of Budget For Assets Cover, Insurers Tasked On Creative Media Content Hub

Govt Charged To Devote 2% Of Budget For Assets Cover, Insurers Tasked On Creative Media Content Hub

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

NEM INSURANCE NEM INSURANCE NEM INSURANCE
  • Trending
  • Comments
  • Latest
ILAN Picture

Loss Adjusters Receive Charge To Match Speed Of New Developments

July 30, 2022
Custodian Investment To Acquire 51% Stake In UACN Property

Penetration: Operators Call For Insurance-In-Action

November 2, 2022
tope smart NIA former chairman

Insurance Milestone: A Beacon To Follow

April 3, 2022
ncrib logo

NCRIB And Universal In Pictures

August 23, 2020
Reinsurance Rates May Increase Into 2022, But Momentum To Wane: Fitch

Reinsurance Rates May Increase Into 2022, But Momentum To Wane: Fitch

April 13, 2021
Preferred PenCom Logo

PenCom Board Crafted To Hedge Setback

February 1, 2021
NCRIB Sets The Stage For Adaramola’s Tenure

NCRIB Sets The Stage For Adaramola’s Tenure

March 18, 2021
Linkage Assurance Aligns With Brokers For Growth

Linkage Assurance Aligns With Brokers For Growth

December 6, 2021
PTAD Wipes 21,227 Parastatals Pensioners From Payroll

PTAD Wipes 21,227 Parastatals Pensioners From Payroll

January 31, 2021
PenCom Approves Mrs Okwuosa New Access Pension Fund Custodian MD

PenCom Board Back-To-Work Pass, Gets Tick Over

February 1, 2021
How Strong Is The Reinsurance Sector Going Into 2021?

How Strong Is The Reinsurance Sector Going Into 2021?

360
Scib CEO Tinubu

Professionals Want Value Dimension Added To Enhance Compulsory Insurance

74
Linkage Assurance Aligns With Brokers For Growth

Linkage Assurance Aligns With Brokers For Growth

42
PenCom Trigger Lifts Transfer System Off The Starting Block With Split Responsibilities

Pension Funds Encounter First Waterfall

42
Allianz Claims Survey Shows Changing Claims Patterns

Internal Failures, Major Cause Of Cyber Claims

30
Anchor MD Loses Father

Anchor MD Loses Father

17
Massive Verdict In Business Interruption Insurance Case

Massive Verdict In Business Interruption Insurance Case

7
NCRIB Sets The Stage For Adaramola’s Tenure

NCRIB Sets The Stage For Adaramola’s Tenure

6
CBN Governor

Deal With Azimo, Transfer Wise At Own Risk, CBN Warns

5
Image Spin: NAICOM Gets Royal Endorsement

Insurers Charged To Lead Recovery And Restoration After #EndSARS

5
NIA Optimistic Of Insurance Bill 2020 Receiving President’ Consent Soon

NIA Optimistic Of Insurance Bill 2020 Receiving President’ Consent Soon

January 28, 2023
FIRS Breaks 2021 Records, Collects N10.1tr In 2022

FIRS Breaks 2021 Records, Collects N10.1tr In 2022

January 23, 2023
Half Of UK Businesses ‘Likely To Be Underinsured’

Half Of UK Businesses ‘Likely To Be Underinsured’

January 23, 2023
Insurers To Dump Obligation Draining Third Party Motor Tariff For Risk Right Price Jan 2022

Motor Tariff, Scare Buyers Jostling Open Valve For Sanctions And Rusty Cover

January 20, 2023
Risk Specialists Advice Business Leaders To Prepare For Rise In Civil Unrest

Allianz Report Ranks BI, Cyber Top, Africa Surrounded By Ukraine War, Economic & Political Risks

January 17, 2023
Heirs Life Spreads Nationwide, Targets Insured Public

Heirs Life Spreads Nationwide, Targets Insured Public

January 17, 2023
BI Policy Soars Globally Despite Current Biting Cocktail

BI Policy Soars Globally Despite Current Biting Cocktail

January 16, 2023
Risks Infestation, WEF Advances Collaboration To Avert “Resource Rivalries”

Risks Infestation, WEF Advances Collaboration To Avert “Resource Rivalries”

January 12, 2023
Nwachukwu Takes Charge At Royal Exchange General Insurance

Nwachukwu Takes Charge At Royal Exchange General Insurance

January 9, 2023
Capacity To Deliver, Sanlam Life Says Excellent Service Is Unwavering Commitment

Capacity To Deliver, Sanlam Life Says Excellent Service Is Unwavering Commitment

January 9, 2023

Recent News

NIA Optimistic Of Insurance Bill 2020 Receiving President’ Consent Soon

NIA Optimistic Of Insurance Bill 2020 Receiving President’ Consent Soon

January 28, 2023
FIRS Breaks 2021 Records, Collects N10.1tr In 2022

FIRS Breaks 2021 Records, Collects N10.1tr In 2022

January 23, 2023
Half Of UK Businesses ‘Likely To Be Underinsured’

Half Of UK Businesses ‘Likely To Be Underinsured’

January 23, 2023
Insurers To Dump Obligation Draining Third Party Motor Tariff For Risk Right Price Jan 2022

Motor Tariff, Scare Buyers Jostling Open Valve For Sanctions And Rusty Cover

January 20, 2023
Risk Specialists Advice Business Leaders To Prepare For Rise In Civil Unrest

Allianz Report Ranks BI, Cyber Top, Africa Surrounded By Ukraine War, Economic & Political Risks

January 17, 2023
Heirs Life Spreads Nationwide, Targets Insured Public

Heirs Life Spreads Nationwide, Targets Insured Public

January 17, 2023
BI Policy Soars Globally Despite Current Biting Cocktail

BI Policy Soars Globally Despite Current Biting Cocktail

January 16, 2023
Risks Infestation, WEF Advances Collaboration To Avert “Resource Rivalries”

Risks Infestation, WEF Advances Collaboration To Avert “Resource Rivalries”

January 12, 2023
Nwachukwu Takes Charge At Royal Exchange General Insurance

Nwachukwu Takes Charge At Royal Exchange General Insurance

January 9, 2023
Capacity To Deliver, Sanlam Life Says Excellent Service Is Unwavering Commitment

Capacity To Deliver, Sanlam Life Says Excellent Service Is Unwavering Commitment

January 9, 2023

Tonia Smart Farewell, Impact Streams

January 6, 2023
Half Year Claims Obligation, Sovereign Trust Pays N1.6bn

2023: Sovereign Trust Insurance Promises Policyholders Mutually Rewarding Insurance Transactions

January 4, 2023
Insurance Consumers Lobby Oppose New Motor Tariff, Brokers Assign Diagnosis To Technical Committee

Insurance Consumers Lobby Oppose New Motor Tariff, Brokers Assign Diagnosis To Technical Committee

January 4, 2023
NAICOM Builds Project Warehouse For Innovation

NAICOM Helmsman, Thomas, Best Supportive CEO On SERVICOM

January 3, 2023
Business Post

We connect brands with buyers and sellers of insurance, pension and also project insurance and allied Businesses to the trending generation. We help the various public to adapt to the constant changes as it would impact, and also enable advertisers to connect, engage and target opportunities on line , in print and in person.

Browse by Category

  • Business Unlimited
  • Feature
  • Insurance
  • News
  • OIL & ENERGY
  • Pension
  • Travel

Recent News

NIA Optimistic Of Insurance Bill 2020 Receiving President’ Consent Soon

NIA Optimistic Of Insurance Bill 2020 Receiving President’ Consent Soon

January 28, 2023
FIRS Breaks 2021 Records, Collects N10.1tr In 2022

FIRS Breaks 2021 Records, Collects N10.1tr In 2022

January 23, 2023
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 BusinessPost

No Result
View All Result
  • Home
  • Insurance
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
  • Contact Us
  • About
  • Advertise
  • Privacy & Policy

© 2023 BusinessPost

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In