Contributory Pension assets rise by N3.56tn- PenCom

Nike Popoola

The assets under the Contributory Pension Scheme (CPS) rose by N3.56tn from the end of 2023 to the end of October 2024.

According to figures obtained by Daily Economy from the National Pension Commission from its report titled, ‘Unaudited report on pension funds industry portfolio; Approved Existing Schemes, Closed Pension Fund Administrators and RSA Funds (Including unremitted contributions @CBN & Legacy Funds)’, the total assets 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.