Pension Fund assets under Contributory Pension Scheme rises to N22.51trn – PenCom

By allcitynews.ng

Despite harsh economic downturn, National Pension Commission (PenCom) has announced the rise of
Pension fund assests under the Contributory Pension Scheme (CPS) to N22.5 trillion.

According to the Pension Regulatory Body, the figure grew exponentially in 2024, with total assets surging by N4.2 trillion, bringing the total value to N22.512 trillion.

The figures, sourced from PenCom’s Unaudited Report on Pension Funds Industry Portfolio for the Period Ended December 31, 2024, highlight the steady expansion of the pension sector, reflecting increased contributions, investment returns, and regulatory efficiency.

The assets stood at N18.355 trillion as of December 2023, indicating a year-on-year growth driven by sustained confidence in the scheme. A significant portion of these assets, N14.11 trillion, was invested in Federal Government of Nigeria securities, reaffirming the government’s dominant role in pension fund investments.

Other investment channels included corporate bonds, money market instruments, and real estate, demonstrating a diversified portfolio aimed at maximising returns and ensuring long-term sustainability. The report further revealed that membership under the Retirement Savings Account (RSA) scheme rose to 10,582,299 as of December 2024.

This growth underscores the increasing adoption of pension schemes among Nigerian workers, driven by heightened awareness, compliance enforcement, and the expanding formal workforce.

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