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Category Archives for News

Executive Appointment (New Managing Director/CEO) – Mr. Wilson Ideva

Mr Wilson Ideva has been appointed as the Managing Director/C.E.O of First Guarantee Pension Limited effective May 18, 2020. Mr. Ideva is a seasoned technocrat with several years of experience within the pension industry. He…

New VAT Rate

Dear Client, The Finance bill was signed into law by President Muhammadu Buhari. This gave rise to Finance Act 2019. Its purpose is to reform our existing tax laws as well as supporting small and…

What you need to know about PRA 2014

According to PRA 2014, there are four grounds by which the pension contributions can be accessed either in whole or in parts by a contributor which are listed below; 1. MANDATORY RETIREMENT 2. LOSS OF…

Requirements for Data Capture

Requirements for Data Capture. To ensure our clients have adequate information at the point of being captured for data updates, the following requirements must be in place. 1. PUBLIC SECTOR: Letter of first appointment Age…

WHISTLE BLOWING

WHISTLE BLOWING PROCEDURE Background The National Pension Commission (“the Commission”) as part of its effort to engender transparency, issued guidelines on Whistle Blowing to provide direction on the process by which information that is ultimately…

Benefits of a retirement account

At first guarantee pension limited, when we talk about having in place a retirement plan and how better the future can become, we also show you some of the benefits embedded in it. 1. A…

Nigeria General Economic Report

Q1 2019 REVIEW   Introduction The IMF expects the Nigerian economy to grow at 2.0% in 2019 versus the World Bank’s estimate of 2.2%-both estimates are significantly lower than the Government of Nigeria’s budget forecast…

PROMPT PAYMENT OF RETIREMENT BENEFITS FOR EMPLOYEES IN THE PUBLIC SECTOR

One of the objective of PRA 2014 is for PFAs to ensure that every employee receives his/her Retirement Benefits as and when due. In order to achieve the above objective, all employees in the public…

Programmed Withdrawal

Programmed Withdrawal, your peace of mind at retirement…. According to the National Pension Commission that is a major regulator in the Pension industry, at retirement, a retiree has two options; A. Programmed Withdrawal B. Annuity…

Mirco Pension Scheme

The news about the Micro Pension Scheme (MPS) is one that is beautiful to all the stakeholders in the Pension Industry in Nigeria. Prior to this moment, the government has mapped out a plan to…