The Acting Director-General of the National Pension Commission, Omolola Oloworaran, has disclosed that the pension fund assets under the Contributory Pension Scheme have risen to N20.79tn as of July 2024.
She stated this on Wednesday at the Quarterly Consultative Forum for states and the Federal Capital Territory pension bureaus/boards/commissions in Lagos.
Oloworaran also revealed that states had collectively remitted over N236.7bn between January 2020 and the second quarter of 2024.
“Pension fund assets under the CPS continue to grow, with total Assets under Management soaring to N20.79tn as of July 2024. We are pleased to note the steady remittance of contributions by States, with over N236.7bn remitted by States between January 2020 and the second quarter of 2024,” he stated.
Oloworaran added that based on the record as of Wednesday, 25 states, including the FCT, have enacted pension laws on the CPS, while six were at the bill stage.
“Six other States have adopted the Contributory Defined Benefits Scheme, a hybrid of the CPS. However, only eight States are fully implementing the CPS, out of the 25 States that have enacted pension laws,” she remarked.
