Total E&P Nigeria Staff Non-Contributory Defined Benefits Pension Scheme (Scheme) is governed by the PRA 2014 and is administered by Total E&P Nigeria CPFA Limited (TEPNG CPFA), a corporate body duly licensed by the National Pensions Commission (PenCom) as a Closed Pension Fund Administrator (CPFA) in accordance with the amended Trust Deed and Regulation set up in 2001 by the scheme sponsor, Total E&P Nigeria Ltd (TEPNG) subject to the provisions of the Pension Reform Act 2014 (PRA 2014) .
In terms of ownership structure, Total CPFA is owned 99% by Total E&P Nigeria Ltd (TEPNG) and 1% by Total Upstream Nigeria Ltd (TUPNI) in accordance with the amended Trust Deed and Regulation and the provisions of the Pension Reform Act (PRA) 2014 . The Scheme was established in 1993, but remained unfunded until 2000 when preparatory funding through the Treasury Department of TEPNG commenced. By November 8, 2001, TotalFinaElf (E&P) Trustees Nigeria Limited was incorporated and appointed Trustee to the Fund. A year later, the first Trust Deed was signed. On May 6, 2004 , the Trustee was renamed Total E&P Trustees Nigeria Limited in line with the change of name of the founding company.
