PenCom clears pension arrears for 957,000 as assets rise 51% to N31.5tn - Businessday NG

The National Pension Commission PENCOM, on Tuesday, said a total of 957,000 pensioners benefited from settlement of arrears, some dating back as far as 2007, as it’s assets expands to N31.48 trillion growing by 51 percent.

Omolola Oloworaran, director general, DG of the Commission states this while briefing State House Journalists, at the Presidential Villa, Abuja

The PENCOM DG, listing her achievements in two years, since assuming office, noted amongst others that her office recorded a historic N758 billion intervention resolving pension obligations stretching back almost two decades, with 957,000 pensioners benefiting.

Highlighting the sector’s performance over the past two years, the PenCom Director-General said pension assets had increased from N20.79 trillion to N31.48 trillion, representing growth of more than N10.7 trillion, or 51 percent.

She said the growth reflected renewed confidence in the pension system, with 938,229 additional Nigerians joining the Contributory Pension Scheme during the period.