The federal government has said the total pension assets on March 31, 2023, are over 15.58 trillion, according to records from the National Pension Commission, PenCom.
Aisha Dahir-Umar, the Director General of PenCom, disclosed this on Thursday in Lagos.
Speaking during a Workshop on the theme, ‘Securing the Future: The Benefits of the Contributory Pension Scheme to the Nigerian Workers’, Dahir-Umar said that N384.28 million, comprising contributions of N193.06 million and penalties of N191.22 million were recovered from 34 defaulting employers in the First quarter of 2023.
The DG, represented by PenCom’s Head of Communications, Abdulquadri Dahiru, noted that the Commission protects workers’ interests and benefits after retirement.
Dahir-Umar added that the Commission had recovered 24.53 billion from contributions (12.44 Billion and Penalties of 12.09 billion) from defaulting employers.
He added that the Commission had recovered 24.53 billion from contributions (12.44 Billion and Penalties of 12.09 billion) from defaulting employers in Eleven years (from June 2012 to 2023).
“The value of Pension Assets stood at N15.58 trillion as of March 31 2023, while CPS membership was 9.95 million,” he said.