LAGOS — Nigeria’s pension fund assets rose to N12.66 trillion in June while the contributors under the Contributory Pension Scheme (CPS) hitting the 9.38 million mark.
DG National Pension Commision (PenCom), Aisha Dahir-Umar, indicated this while address Journalists at a Workshop held in Lagos on Monday.
According to the DG, the consistent growth trajectory of the assets rationalized the commission’s overriding investment philosophy of ensuring the safety of pension fund assets.
“COVID-19 has engendered socio-economic disruptions of the entire global order, with multifarious challenges in conducting hitherto routine activities.
“It was, therefore, imperative for the commission to deepen technological innovation to navigate through the challenges imposed by the pandemic.
“The most recent technological innovation introduced by the commission is the in-house designed and developed online enrolment application.
“The application has capabilities to register, verify and enroll prospective retirees of Treasury-Funded Federal Ministries, Departments and Agencies (MDAs).
“This is considered germane considering that 17 years after the pension reform in Nigeria, there still exists a knowledge gap on the CPS.
“Consequently, the commission is committed to reinvigorating its public enlightenment and education drive in order to address this challenge,” she said.
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