Nigeria’s Contributory Pension Assets Hits N14.5trn
The Director General of National Pension Commission (PenCom) has disclosed that the total asset under the Contributory Pension Scheme (CPS) is now N14.5 trillion.
The PenCom DG, Aisha Dahiru-Umar, disclosed this during an interactive session on the 2021/2022 budget defence and presentation of the 2023-2025 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), to the Senate Committee on Finance.
The DG while answering questions said the total assets under CPS is now N14.5 trillion, made up of three categories of funds, the Retirement Savings Account Fund, the Closed Pension Fund Asset and the Existing Scheme Assets. She further said that, out of the N14.5 trillion, the RSA fund is about N11 trillion, the CPFA has N1.5 trillion and the AES has about N1.4 trillion.
PensionNigeria tracks Status of Contributory Pension Assets HERE and the last report officially released by PenCom was as at July 2022 when the total assets under CPS was N14.36 trillion. The N14.5 trillion disclosed by the PenCom DG is expected to be as at 31 August 2022, PensionNigeria will release a breakdown of the N14.5 trillion when the report is officially released by PenCom.
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