The National Pension Commission (PenCom) has introduced a fresh capital regime for pension fund administrators (PFRs) and pension fund custodians (PFCs), a move designed to strengthen financial stability and safeguard the long-term sustainability of the pension industry. The new development was announced last week, with the new framework pegging capital requirements to the size of assets under management and custody. Under the revised structure, PFA managing assets above N500 billion must hold a minimum capital of N20 billion plus one per cent of funds exceeding the threshold. For PFCs, the minimum capital has been raised to N25 billion plus 0.1 per cent of assets under custody. “With these reforms, we expect operators to consolidate their achievements, withstand economic headwinds, and position Nigeria’s pension industry to play a more active role in national development,” PenCom stated.