Pension Registration Falls by 10% in Q1 - PenCom
Workers’ interest in the Contributory Pension Scheme, CPS, waned in the first quarter of 2023, Q1’23, as the number of new enrolment in the Retirement Savings Accounts, RSAs, dropped by 10.2 per cent year-on-year, YoY, to...
N15trn Pension Assets, Proof Of CPS’ Effectiveness – PenCom
The National Pension Commission (PenCom) has described the Contributory Pensions Scheme (CPS) introduced in 2004 as a very successful initiative, having consistently grown the nation’s pension assets from N2 trillion at inception, to N15 trillion today.
The...
Disengaged Workers Withdraw N201bn From Pension Fund – PenCom
No fewer than 466,812 workers who were disengaged from their jobs have withdrawn N201.22bn from their Retirement Savings accounts, amounting to a quarter of their total savings as of the end of first quarter of 2023.
Figures...
PFOs Sustain Business Growth With N1.69trn Investment
Pension Fund Operators (PFOs) have invested a sum of N1.69 trillion in banks through money market instruments from the inception of the Contributory Pension Scheme (CPS) to 2023.
The amount serves as loans to the private sector.
This was disclosed...
Report Revealed Contributory Pensions Gained N590bn In Q1, 2023
The assets under the Contributory Pension Scheme rose by N590bn in the first quarter of 2023, figures from the National Pension Commission (PenCom) have revealed.
The figures disclosed that the assets rose from N14.99tn as of the...
PFAs Exposure In FGN Securities Rise By 17% To N29.66trn
The hike in Monetary Policy Rate (MPR) by Central Bank of Nigeria (CBN) in an effort to tackle double-digit inflation is driving Pension Fund Administrators (PFAs) to gilt edge securities as their exposure to federal...
