BY NKECHI NAECHE- ESEZOBOR–The National Pension Commission, PenCom, on Thursday said the total pension fund asset under the Contributory Pension Scheme is expected to grow to N22 trillion by the end of December, 2024 from N21.92tn recorded as of October, 2024.
The Director General Ms. Omolola Oloworaran, disclosed this at a one-day workshop with Pension journalists in lagos, that the number of contributors stand at over 10.5 million contributors.
On accrued right she said “we are working with the Federal Government to put in place a sustainable solution that ensures retirees receive their benefits promptly and without undue stress.”
She stated that “since assuming office, my team and I have been focused on strengthening compliance, enhancing service delivery, diversifying pension assets to optimize returns, improving benefits, and expanding coverage to include more Nigerians, especially those in the informal sector.
“The micro-pension initiative, in particular, is something we are very passionate about. It is our way of saying that no one should be left behind, no matter how small their earnings might be.
According to her technology plays a vital role in driving this inclusion, from mobile enrollment to real-time account management to benefits administration. We intend to use technology to scale the micro-pension plan.
