The total pension Net Asset Value under the management of Pension Fund Administrators in the country as at December 2024 has hit N22.51trillion as against N22.25trillion recorded in November 2024, The Nation has learnt.
This was shown in a document released by the regulator, the National Pension Commission (PenCom) cited by the newspaper.
Besides, Cumulative contributions of workers under the Contributory Pension Scheme (CPS) since its inception in 2004 has reached N10.97trillion as at Third Quarter, 2024 with public sector contributing N5.71 trillion and private sector N5.25 trillion.
Similarly, pension contribution achieved significant growth in the past five years also with public sector contributions rising from N3.43 trillion to N5.71 trillion while private sector increased from N3.27 trillion to N5.25 trillion.
Meanwhile, micro pension plan which the regulator and operators have been trying to grow has a registration count of 164, 031 participants from inception to Q3, 2024.
