Section 23: Functions of the commission

The Commission shall-
(a) regulate and supervise the Scheme established under this Act and other pension schemes in Nigeria;
(b) issue guidelines, rules and regulations for the investment and administration of pension funds;
(c) approve, license, regulate and supervise pension fund administrators, custodians and other institutions relating to pension matters as the Commission may, from time to time, determine;
(d) establish standards, benchmarks, guidelines, procedures, rules and regulations for the management of the pension funds under this Act;
(e) ensure the maintenance of a national data bank on pension matters;
(f) carry out public awareness, enlightenment and education on the establishment, operations and management of the Scheme;
(g) promote capacity building and institutional strengthening of Pension Fund Administrators and Pension Fund Custodians;
(h) receive, investigate and mitigate complaints of impropriety made against any Pension Fund Administrator, custodian, employer, staff or agent;
(i) promote and offer technical assistance in the application of the contributory pension scheme by the States and Local Government Councils in accordance with the objectives of this Act; and
(j) perform such other duties which, in the opinion of the Commission, are necessary or expedient for the discharge of its functions under this Act.