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Sunday, May 28, 2023

Pension Contribution Assets Hit N15trn In March 2023

Federal Government has says the total pension assets on March 31, 2023, are over 15.58 trillion, according to records from the National Pension Commission, PenCom.

Director General of PenCom, Aisha Dahir-Umar, disclosed this on Thursday in Lagos.

Dahir-Umar said, N384.28 million, comprising contributions of N193.06 million and penalties of N191.22 million were recovered from 34 defaulting employers in the First quarter of 2023.

The DG, who was represented by PenCom’s Head of Communications, Abdulquadri Dahiru, noted that the Commission protects workers’ interests and benefits after retirement adding that the Commission had recovered 24.53 billion from contributions (12.44 Billion and Penalties of 12.09 billion) from defaulting employers.

“The value of Pension Assets stood at N15.58 trillion as of March 31 2023, while CPS membership was 9.95 million,” she said.

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