344,208 workers join Contributory Pension Scheme
PenCom
Nike Popoola
No fewer than 344,208 workers registered for Retirement Savings Accounts (RSA) under the Contributory Pension Scheme (CPS) in ten months.
Latest report obtained by Dailyeconomy from the National Pension Commission (PenCom) titled, ‘Unaudited report on pension funds industry portfolio; Approved Existing Schemes, Closed Pension Fund Administrators and RSA Funds (Including unremitted contributions @CBN & Legacy Funds), showed.
According to the report, RSA Membership as at December 2023 which was 10,191,400 rose to 10,535,608 at the end of October 2024.
The total assets under the CPS also rose from N18.35tn as of December 2023 to N21.92tn as of end of October 2024.
The bulk of the assets totaling N13.5tn was invested in the FGN securities.
Other portfolio where the pension operators invested the assets are in money market instruments, and mutual funds.
