Pension Fund Assets Rise to N26.66 Trillion as PenCom Cracks Down on Defaulters
Nigeria’s total pension fund assets under the Contributory Pension Scheme (CPS) increased by 2.2% month-on-month to N26.66 trillion in October 2025, up from N26.09 trillion in September, according to an unaudited report by the National Pension Commission (PenCom). The report shows steady growth in the pension industry, reflecting the increasing mobilization of retirement savings across the country.
A significant portion of these assets continues to be invested in federal government securities, which grew by 1.3% to N15.9 trillion. Of this, N15.1 trillion was held in government bonds, while treasury bills accounted for N686.2 billion. Investments in corporate debt securities, however, declined slightly to N2.16 trillion from N2.24 trillion, indicating a cautious approach by fund managers amid economic fluctuations.
The Retirement Savings Account (RSA) membership also rose to 10,970,979 in October, up from 10,928,039 the previous month. PenCom’s Director General, Ms. Omolola Oloworaran, emphasized a zero-tolerance policy for pension defaulters, highlighting the critical role of accredited Recovery Agents in enforcing compliance and recovering outstanding contributions from employers.
Since the introduction of the recovery framework in 2012, PenCom has recovered a total of N32.27 billion from defaulting employers, including N15.87 billion in principal contributions and N16.40 billion in penalties. In the third quarter of 2025 alone, N2.06 billion was recovered from 49 defaulting employers, signaling a sustained enforcement push to protect workers’ retirement savings.
Oloworaran warned that pension defaults threaten the purpose of the CPS, describing each unremitted naira as a “broken promise to a Nigerian worker.” She also highlighted a recent MoU with the Independent Corrupt Practices Commission (ICPC), which empowers authorities to hold management of defaulting companies personally accountable. “The era of impunity is over,” she said, stressing that withholding workers’ pensions now carries serious legal consequences.
source: vanguard