…As Pension Fund Assets Rises To N12.66 trillion
By LOVETH AZODO, Lagos
The Pension Commission has said that President Muhammadu Buhari has approved the payment of outstanding 2.5percent pension contributions to retirees as the commission is set to commence disbursement tomorrow, July 27.
This is just as the commission disclose that the Pension Fund Assets has risen to N12.66trillion in June 2021.
The commission made the disclosure Today at the ongoing 2021 Workshop for Journalists organised by the commission with theme ‘Repositioning Pension Industry in Post COVID-19 Era’ in Lagos.
According to the Director-General, PenCom, Mrs. Aisha Dahir-Umar, who was represented by the Head Coporte Communications Department, Mr Peter Aghahowa, the settlement of these outstanding accrued pension rights of verified and enrolled FGN retirees would result in reversing a major challenge that has lingered since 2014.
She added that the commencement of payment of the reviewed monthly pension contribution rate by the Federal Government is another significant step in ensuring compliance with the PRA 2014.
She said “The maintenance of a consistent growth trajectory continues to justify the Commission’s overriding investment philosophy of ensuring the safety of pension fund assets.”
“The number of registered contributors under the CPS has grown to 9.38 million while pension fund assets have accumulated to N12.66 trillion as at 30 June 2021.
“The maintenance of a consistent growth trajectory continues to justify the Commission’s overriding investment philosophy of ensuring the safety of pension fund assets.”
On the growth in the pension fund assets under the new pension scheme, she noted that it is an indication of prudent and sincere management of the pension fund by the pension operators and the regulator.
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