Pension fund assets hit N11.57trn, rise by 11% in 1 year

Nigeria’s pension assets

Pension fund assets hit N11.57trn, rise by 11% in 1 year   The aggregate value of pension fund assets in Nigeria has recorded significant gain to hit N11.57 trillion after advancing by 11 per cent within a year. Despite the many challenges that characterized the year, pension fund assets in the country gained N1.76 trillion equivalent to 11 per cent growth in the last one year, growing from N9.81 trillion in October 2019 to N11.57 trillion at the end of September 2020. The huge gains, according to findings, was attributed…

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Pension schemes capture only 11% Nigerian workforce – PenOp

Nigeria’s pension assets

Pension schemes capture only 11% Nigerian workforce – PenOp   Despite the astronomical growth recorded in the pension fund, only 11 per cent of workforce in Nigeria is enrolled in the Contributory Pension Scheme (CPS) and the micro pension schemes This is according to the Pension Fund Operators Association of Nigeria (PenOp) which advocates that the reach must be improved in the country. Head of Media, Communications and Branding Committee of PenOp, who is also the Chief Executive of Fidelity Pensions Limited, Mrs. Amaka Andy-Azike, disclosed this during a webinar…

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PenOp targets widened pension coverage

PenOp, Pencom, Wale Odutola

The Pension Fund Operators Association of Nigeria (PenOp), has unveiled plans to widen the coverage of the different pension schemes in the country, to bring more contributors into the security basket. The operators said they would do this by further engaging the government and regulators, and promoting ethics within the sector, by up-skilling pension operators, and ensuring that the industry contributes to Nigeria’s development. This came after the National Pension Commission (PenCom), disclosed plans in collaboration with the industry stakeholders to diversify the investment portfolio of pension assets, and deepen…

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