National Pension Commission (PenCom) Director-General (DG) Mrs. Omolola Oloworaran has expressed optimism that pension asset will hit N22 trillion before December 31.

Mrs. Oloworaran, who addressed an audience at a news conference in Abuja on Thursday, December 12, stated that the Contributory Pension Scheme (CPS), as at October, had 10.53 million registered contributors and pension fund assets worth N21.92 trillion.

The conference, with the theme: “Tech-driven Transformation Shaping the Pension Landscape”, unveiled PenCom’s strategic commitment to innovation.

The PenCom boss stated that the numbers showed PenCom’s unwavering commitment to fund safety, prudent management, and sustainable growth.

She said: “To address these issues, the commission has initiated a comprehensive review of its investment regulations.

“It is focusing on diversifying pension fund investments into inflation-protected instruments, alternative assets, and foreign currency-denominated investments.

“The goal is to safeguard contributor savings and ensure resilience against future economic volatility.

“This initiative will make it easier for everyday Nigerians to save for retirement, aligning with our vision of inclusive growth and financial stability for all.

“The backlog in retirement benefits for retirees of the Federal Government’s Ministries, Departments, and Agencies (MDAs) will soon be settled.

“The Federal Government recently disbursed N44 billion under the 2024 budget to settle approved pension rights.

“We are collaborating with the Federal Government to institutionalise a sustainable solution to ensure retirees receive their benefits promptly, eliminating delays.

“From data management to seamless contributions and regulatory supervision, we are paving the way for a future where the pension industry serves all Nigerians effectively.

“Since its deployment, 38,528 pension clearance certificates have been issued. This initiative ensures compliance and secures the future of Nigerians working in organisations that interact with the government.”