The assets of Contributory Pension Scheme (CPS) have increased to N92 billion in March, the National Pension Commission (PenCom), reported in its official website.
PenCom posted in the unaudited report on pension funds industry portfolio for the period ended in March 31, 2021.
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 Central Bank of Nigeria (CBN) and legacy funds.
Financial and pension Expert, Mrs Halima Idris, said that the pension assets has picked up from a decline N51.30 billion in February to an increase to N92 billion in March which shows progress.
Idris said that the Pension Acts allows them to invest in the country’s economy, security, mutual funds among others, of which the market is not a stable.
Idris commended efforts of the government for the huge increase and urged Nigerians to be patient as the government was trying hard to safe their money.
The total registration for Retirement Saving Account (RSA) at March was 9,300,058.
