The National Pension Commission (Pension) has said that its consistent awareness creation efforts as well as financial inclusion strategy in the past five years yielded tremendous results despite the harsh economy as assets under management stands at N21.38trillion from N12. 05trillion.
The commission said in the past five years, registration into the Contributory Pension Scheme (CPS) by workers had maintained steady growth showing 13.93 per cent growth from 9,215,788 contributors in Q3 2020 to 10,499,358 in Q3 2024.
PenCom said in like manner, assets under management grew from N12.05 trillion in October 2020 to N21.38 trillion as at Q3, 2024.
The commission disclosed these in its dashboard, which contains assembled information on key pension metrics extracted from its database platform.
The commission further said out of the aforementioned number of contributors, 61 per cent of the contributors were male, while 38 per cent were female.
“By Q3 2024, there were 10,536,088 registered Retirement Savings Accounts (RSAs), representing a growing adoption of the pension system. Notable highlights include 118,339 new RSA registrations in the year-to-date period for 2024, reflecting consistent awareness and inclusion efforts.”
