National Pension Commission (PenCom) has disclosed that the number of Retirement Savings Accounts (RSAs) under the contributory pension scheme (CPS) has risen to 10 million and the size of the pension asset under management amounted to N16.76 trillion in the third quarter of 2023.
PenCom also said contributions worth N10.20 billion have been transferred to the Retirement Savings Accounts of 142,486 staff of Nigerian Social Insurance Trust Fund (NSITF) contributors under the Contributory Pension Scheme (CPS).
Director-general of PenCom, Aisha Dahir-Umar disclosed this during an interactive session on the contributory pension scheme with the private sector players in Abuja.
To ensure that all contributors under the NSITF platform have their contributions transferred to their RSAs, the commission implored all employers to encourage their employees who have contributed to the scheme to liaise with their Pension Fund Administrators (PFAs) and in particular trustfund pensions for guidance on how to have their contributions transferred to their RSAs.
Aisha Dahir-Umar said the commission has continued to take giant strides towards ensuring the smooth implementation of the CPS through the revision of existing regulations and guidelines and the development of new ones.
Dahir-Umar who was represented by the commissioner in charge of administration of the commission, Dr. Umar Farouk Aminu said PenCom has deployed an enhanced contributors registration system for the pension industry.
