Jubilation as PENCOM reveals pension funds rise to N8.67trn
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Jubilation as PENCOM reveals pension funds rise to N8.67trn

- National Pension Commission said pension fund has hit N8.67 trillion

- The disclosure was made by acting director general of the commission, Aisha Dahir-Umar

- Dahir-Umar also said CPS, since its establishment in 2014, has brought tremendous progress to states

The National Pension Commission (PENCOM) has revealed that as of 2019, the pension asset fund has risen to N8.67 trillion, adding that the fund remains both safe and intact.

The disclosure was made by the acting director general of PENCOM, Aisha Dahir-Umar, in Akure, Ondo state capital on Thursday, March 28, Daily Trust reports.

Legit.ng gathers that Dahir-Umar, who spoke at the First Quarter Consultative Forum for states, maintained that the Contributory Pension Scheme (CPS) has become an indispensable tool for federal and state governments for accessing bonds for developmental purposes.

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Represented by head of states operations department of the PENCOM, Dan Ndackson, Dahir-Umar also disclosed that CPS, since its establishment in 2014, has brought tremendous progress to states across the federation.

She said: ''The essence of this forum is to discuss issues associated with the implementation of contributory pension scheme in states. So we want to tell Nigerians today that pension fund assets are safe.''

Also speaking at the event is the Ondo governor, Rotimi akeredolu, who lauded the commission for its contribution towards the economic development.

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Meanwhile, Legit.ng previously reported that President Muhammadu Buhari on Thursday, March 28, at the State House, Abuja, launched the Micro Pension Plan (MPP), a scheme aimed at benefiting self-employed Nigerians.

The scheme, according to the presidency, would also benefit employees who worked in organizations with less than three staff.

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Source: Legit

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