Contributory Pension assets rose by  N4.2tn to N22.512tn in 2024- PenCom

Nike Popoola

The total assets under the Contributory Pension Scheme gained N4.2tn in 2024.

Figures obtained on Tuesday by Dailyeconomy from the National Pension Commission (PenCom) on ‘Unaudited report on pension funds industry portfolio for the period ended 31 December 2024- Approved Existing Schemes, Closed Pension Fund Administrators and RSA funds (including unremitted contributions @CBN & legacy funds), revealed.

According to PenCom, the assets rose to N22.512tn as of the end of December 2024, from N18.355tn as of December 20231.

The bulk of the funds totaling N14.11tn was invested in Federal Government of Nigeria’s securities.

According to the figures, the Retirement Savings Accounts RSA membership as at December 2024 was 10,582,299.