News Central TV | Latest Breaking News Across Africa, Daily News in Nigeria, South Africa, Ghana, Kenya and Egypt Today.News Central TV | Latest Breaking News Across Africa, Daily News in Nigeria, South Africa, Ghana, Kenya and Egypt Today.
    Facebook Twitter Instagram YouTube
    • Politics
    • Business
    • Sports
    • Features
    • Shows
    • Op-Ed
    • Watch Live
    Facebook Twitter Instagram YouTube
    News Central TV | Latest Breaking News Across Africa, Daily News in Nigeria, South Africa, Ghana, Kenya and Egypt Today.News Central TV | Latest Breaking News Across Africa, Daily News in Nigeria, South Africa, Ghana, Kenya and Egypt Today.
    Watch Live Tv
    OUR TV SHOWS
    • BREAKFAST CENTRAL
    • VILLAGE SQUARE AFRICA
    • BUSINESS EDGE
    • SECURE THE CONTINENT
    • ONE SLOT
    • POLITICS HQ
    • REPORT DESK AFRICA
    • E CENTRAL
    News Central TV | Latest Breaking News Across Africa, Daily News in Nigeria, South Africa, Ghana, Kenya and Egypt Today.News Central TV | Latest Breaking News Across Africa, Daily News in Nigeria, South Africa, Ghana, Kenya and Egypt Today.
    You are at:Home»African News»Nigeria’s Total Pension Assets Hit N12.3tn in 2020 – PenCom
    African News

    Nigeria’s Total Pension Assets Hit N12.3tn in 2020 – PenCom

    Abdulateef AhmedBy Abdulateef AhmedFebruary 5, 202102 Mins Read
    Share Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Nigeria’s total pension assets rose by N2.1tn to N12.3tn in 2020 from N10.2tn at the end of 2019, according to the latest statistics from the National Pension Commission.

    Nigeria’s Pension Commission (PenCom) disclosed that N8.13tn of the funds was invested in Federal Government of Nigeria Bonds.

    According to the figures, N858.46bn and N92.91bn were invested in domestic and foreign ordinary shares respectively.

    It also added that N1.68tn and N161.39bn were invested in local money market securities and mutual funds respectively.

    As part of efforts to boost services in the industry, PenCom opened the transfer window to enable workers in the Contributory Pension Scheme to change their pension companies.

    PenCom said Retirement Savings Account (RSA) holders may transfer their accounts from one Pension Fund Administrator to another once in a year, in accordance with the Section 13 of the Pension Reform Act 2014.

    Prior to this launch, the commission said it had successfully developed the RSA transfer application, a robust electronic platform that will aid seamless RSA transfers.

    In addition, it said the commission had conducted extensive workshops for licensed pension operators and state pension bureaus in readiness for the event.

    The Managing Director, ARM Pension, Wale Odutola, said it gave every RSA holder the opportunity to move from their current PFA to a preferred one which they believed will better satisfy their pursuit of a comfortable retirement.

    According to Odutola, the Contributory Pension Scheme (CPS) was currently providing safety nets for about 233,493 retirees on programmed withdrawal and over nine million contributors, with consistent growth of pension assets in nominal terms of about 17.6 per cent over a five-year period.

    The Managing Director, NLPC Pension Fund Administrator Limited (PFA), Mr Wale Kolawole, said the survival of the Pension Funds Administrators depended on excellent service.

    He said, “The survival of Pension Fund Administrators will depend largely on service delivery.

    “Based on this, special focus has been placed by NLPC Pension Fund Administrators on these key areas of its operations:

    “Prompt crediting of contributions and SMS alert that shows the contributions credited with the closing investment value, achieving excellent returns on investment and ensuring that benefits are paid speedily.”

    NBS Nigeria PenCom Pension Fund Administrator Wale Kolawole Wale Odutola
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleInternational Crimes Court Convicts Dominic Ongwen of War Crimes
    Next Article Nigeria: SSANU, NASU Begin Nationwide Strike Today – Officials
    Abdulateef Ahmed

    Digital News Editor | Research Lead Abdulateef is a self-driven Researcher renowned for his exceptional editorial skills. He is a literary bon vivant with a keen interest in greener energy, macroeconomics, big data, efficient systems, Africa's political economy, aviation, and pan-African dialogues. His innovative thinking extends even into his dreams, where he crafts solutions,in his sleep, to nonexistent problems.

    Related Posts

    Trump Diagnosed with Vein Issue After Swelling

    July 17, 2025

    Tinubu renames University of Maiduguri after Buhari

    July 17, 2025

    Experts Decry Fiscal Risks in Nigeria’s Budgeting

    July 17, 2025
    Add A Comment

    Leave A Reply Cancel Reply

    Latest Stories Today

    Trump Diagnosed with Vein Issue After Swelling

    By Temitope OkeJuly 17, 2025

    US President Donald Trump has been diagnosed with a long-term but non-threatening vein condition, according…

    Tinubu renames University of Maiduguri after Buhari

    Experts Decry Fiscal Risks in Nigeria’s Budgeting

    Togolese Vote in Municipal Elections

    • Facebook
    • Twitter
    • Instagram
    • YouTube
    © 2025 Newscentral Television All rights reserved.

    Type above and press Enter to search. Press Esc to cancel.