PenCom Reports N10.7 Trillion Growth in Pension Assets

Nigeria's pension fund assets have increased by N10.7 trillion over two years, rising from N20.79 trillion in July 2024 to N31.48 trillion in July 2026, as reported by the National Pension Commission (PenCom). Omolola Oloworaran, the Director-General of PenCom, announced this growth during a media conference, indicating a more than 51% increase.

The rise in assets is attributed to greater participation in the Contributory Pension Scheme (CPS), improved investment performance, and increased confidence in the pension system. During this period, 938,229 Nigerians enrolled in the CPS, enhancing retirement savings.

The Federal Government addressed inherited pension liabilities with a N758 billion intervention bond, clearing long-standing obligations. Additionally, pension adjustments increased monthly payments for over 241,000 retirees, effective January 1, 2026, with the first 175 retirees receiving approximately N1.1 billion.

PenCom has also reduced processing times for retirement benefits and urged eligible employees to complete verification before the December 2026 deadline. As of August 2026, pension fund assets reached N31.8 trillion.