Pension industry assets Rose to N16.76tr in H1, 2023

Pension industry assets have risen by N1.77 trillion in the first half of 2023, from N14.99 trillion in December, 2022 to N16.76 trillion at the end of June, 2023.

Besides, membership also increased by 146.920 new contributors from 9.86 members as of end of 2022 to over 10 million members as of June, 2023.

The Director General, National Pension Commission (PenCom), Aisha Dahir-Umar, declared open yesterday the 2023 Journalists’ conference in Lagos on the theme “Transforming Service Delivery in the Pension Industry: Strategies for Improving Efficiency and Customer Satisfaction,”.

Mrs Dahir-Umar who was represented by the Head of Corporate Communications, Mr. Dahiru Abdulqadir, said “PenCom’s proactive regulatory approach has strengthened the oversight and governance of pension funds, promoting transparency, accountability and safeguarding the interests of pension contributors.

“The CPS, according to her, has ensured that public and private sector workers can build retirement savings throughout their working lives, fostering financial security during their golden years.”

The first paper at the workshop “Enhancing Customer Service in the Pension Industry: PenCom’s New Strategic Plan,” was presented by Mr. Ikenna Chidi-Ebere. The paper highlighted the Commission’s latest initiatives to elevatet customer services. It explained that the creation of the Consumer Protection Department (CPD) underscores PenCom’s determination to prioritise service delivery and provide our Retirement Savings Account holders with the care and attention they rightfully deserve.

The second paper “Strengthening Regulatory Oversight for Improved Service Delivery in the Pension Industry,” presented by Head of Corporate Communication, Mr. Dahiru Abdulqadir for Head, Surveillance Department, Mr. Ehimeme Chioma, explored how regulatory measures can effectively bolster the quality of services provided in the pension sector.

This is because regulatory oversight is pivotal in maintaining transparency, fairness, and efficiency, which are the cornerstones of our pension system.

The third paper “Improving Accessibility and Service Delivery in RSA Mortgage Financing” presented by the Chief Executive Officer (CEO) of the Pension Fund Operators Association of Nigeria (PenOp), Mr. Oguche Agudah, delved into the crucial area of mortgage financing, addressing ways to enhance accessibility and service delivery for our eligible Retirement Savings Account holders.

PenCom boss, while thanking the executives and members of the Nigerian Association of Insurance and Pension Editors (NAIPE); Labour Writers Association of Nigeria (LAWAN) and Finance Correspondents Association of Nigeria (FICAN) for their continuous support and partnership, highlighted the rationale behind the Commission’s partnership with journalist.