News
Contributory pension asset increases by N92bn in March
The Contributory Pension Scheme (CPS) assets that lost some funds in February has recorded N92 billion in March.
The National Pension Commission (PenCom) disclosed this in its official website, in the unaudited report on pension funds industry portfolio for the period ended in March 31.
The commission recorded a decline of N51.30 billion in the pension fund assets in February.
According to the report, the funds which ended February at N12.248 trillion rose to N12.34 trillion at the end of March.
The report also revealed data on the approved existing schemes, Closed Pension Fund Administrators and Retirement Savings Funds including unremitted contributions at the Central Bank of Nigeria and legacy funds.
Financial and pension Expert, Mrs Halima Idris, the increase was a progress on the last figure of February.
Idris said that the Pension Acts which allowed them to invest in the country’s economy, security and mutual funds was not stable.
She commended government’s efforts in the huge increase and urged Nigerians to be patient as the government was trying hard to save their money.
The News Agency of Nigeria (NAN) reports that total registration for Retirement Saving Account (RSA) in March was 9.3 million.
-
Featured6 days agoInside INEC’s race to prepare for Nigeria’s 2027 elections
-
Featured6 days ago2027: APC unveils nationwide campaign timetable, Tinubu to rally in 12 states
-
Latest1 week agoUCTH faces morgue crisis as 50 unclaimed corpses await mass burial
-
Business7 days agoPresident Tinubu and the Low Transport Fares Fiasco
-
Latest7 days agoGlobal excitement builds as Healing Streams Live Services returns October 23
-
Business1 week agoBREAKING: Nigeria’s Inflation Rate Drops to 14.63% in September
-
Business6 days agoCourt dismisses ₦170m Trade Fair contract claim, says Zenith Bank was not a party
-
Business3 days agoNaira faces exchange rate gap as Dollar hits N1,380 on parallel market