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Pension assets hit N4.13trn

27 May 2014, 20:59

Lagos-  Nigeria’s total pension fund assets grew to over N4.13 trillion in March this year.

Registered contributors under the compulsory pension scheme (CPS) also rose to over 5 980 415 as at February 2014.

The acting director-general of the National Pension Commission (PenCom), Chinelo Anohu-Amazu, who disclosed this further revealed that 95 840 retirees are currently receiving pensions as and at when due.

She said that the feat as well as the efficiency and transparency in the management of the scheme has made Nigeria’s pension project a model for other African countries and had attracted study visitations from Ghana, Malawi, Uganda and Tanzania.

Anohu-Amazu further said that the commission had licenced more pension fund administrators. and custodians due to mergers and acquisitions.

She said PenCom is planning effective compliance and enforcement of the Pension Reform Act and expand its coverage as well as creating a clement environment for investment in the real sector.

She also noted of plans to reposition the pension industry for the next decade, build capacity in the industry and engage the services of skilled and experienced financial advisers for deal restructuring.

-    NAN

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