Nigeria. PenCom allows pension contributors to pick investment options
Beginning from July, workers under the Contributory Pension Scheme will be allowed to go to their Pension Fund Administrators to choose how they want the money in their Retirement Savings Accounts to be invested so as to gain higher interest based on the new multi-fund structure, NIKE POPOOLA writes
Following the enactment of the Pension Reform Act, 2014, the National Pension Commission amended the investment regulation in April 2017, largely to incorporate the new provisions in the law as well as align it with market realities.
One of the major amendments was the introduction of the multi-fund structure for Retirement Savings Account funds.
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