The National Pension Commission (PenCom) has introduced a new directive requiring Pension Fund Administrators (PFAs) and custodians to disburse pension benefits within three working days. This move aims to expedite the payment process and enhance the efficiency of pension fund disbursements in Nigeria.
The directive has been well-received among retirees and industry stakeholders, who view it as a significant improvement in the management of pension benefits. This initiative addresses longstanding concerns about the delays in pension payments, which have been a major issue for retirees dependent on timely disbursements for their livelihood. The decision marks PenCom’s commitment to improving the pension system and ensuring better service to pensioners.
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