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Chuks Udo Okonta
The pension fund assets got an injection of N1.11 trillion last year, moving from N12.31 trillion as at December 31, 2020 to N13.42 trillion in December 31, 2021.
Data obtained from the National Pension Commission (PenCom) revealed that Retirement Savings Account (RSA) holders also increased by 31 million, moving from 9.22 million in December 31, 2020 to 9.53 million in December 31, 2021.
PenCom noted that the fund assets increased by N168.29 billion between November to December 2021 and that the value of the fund assets in United States Dollars, was $32.51 billion at an exchange rate of N410.66 to a Dollar.
On progress made so far, Director-General (DG), National Pension Commission- PenCom, Mrs. Aisha Dahir-Umar, noted that the Pension Reform Act (PRA) 2014 codified one of the most important socioeconomic reform initiatives of the Federal Government, leading to a pension industry that has accumulated pension assets in excess of N13 trillion invested in various aspects of the Nigerian economy.
She noted that it is pertinent to reassure stakeholders that the implementation of the CPS remains on course, adding that number of registered contributors under the CPS has continue to grow and that the maintenance of a consistent growth trajectory continues to justify the Commission’s overriding investment philosophy of ensuring the safety of pension fund assets.
