PenCom Removes Pre-Approval Requirement to Speed Up Pension Payments
The National Pension Commission (PenCom) has introduced a new policy aimed at accelerating the payment of benefits to Retirement Savings Account (RSA) holders, eliminating the need for prior approval before disbursements. Effective June 1, 2025, Pension Fund Administrators (PFAs) will no longer be required to seek PenCom’s approval or obtain a “No Objection” before processing…