Nigeria’s Contributory Pension Scheme (CPS) continued its steady upward trend as total pension fund assets rose by 2.2 per cent month-on-month to N26.66 trillion in October 2025, according to the National Pension Commission (PenCom).
The Commission disclosed this in its unaudited pension industry portfolio report for the period ended 31 October 2025, released on Tuesday. The figure marks an increase from the N26.09 trillion recorded in September 2025.
A detailed analysis of the report showed that federal government securities remained the dominant investment destination for pension assets. Holdings in FGN securities increased by 1.3 per cent to N15.9 trillion in October, up from N15.7 trillion the previous month.
The breakdown further revealed that FGN bonds continued to account for the largest share of these investments, rising to N15.1 trillion from N14.9 trillion in September. Pension Fund Administrators also increased their exposure to treasury bills, moving from N616.3 billion to N686.2 billion within the same period.
However, investment in corporate debt securities declined to N2.16 trillion, compared to N2.24 trillion in September, reflecting a cautious stance by investors toward private-sector credit instruments.
Membership under the Retirement Savings Account (RSA) scheme also recorded moderate growth. Total RSA enrollment climbed to 10,970,979 as of October 31, up from 10,928,039 in the previous month, reinforcing the expanding reach of the CPS.
Meanwhile, PenCom’s Director General, Ms. Omolola Oloworaran, said the Commission is driving a new era of strict enforcement to ensure employers comply with pension remittance obligations.
She explained that the Commission has strengthened its compliance framework, with accredited Recovery Agents positioned as key enforcers of Nigeria’s pension laws.
According to Oloworaran, PenCom is currently undertaking a nationwide compliance campaign aimed at recovering outstanding pension contributions and penalties from employers who violate provisions of the Pension Reform Act (PRA) 2014.
The law mandates employers to remit pension contributions no later than seven working days after payment of salaries. She emphasized that the Commission remains firmly committed to eliminating default practices, noting that pension remittance is central to safeguarding the financial future of Nigerian workers.
PenCom’s enforcement strategy relies heavily on the work of its accredited Recovery Agents, who carry out audits of defaulting employers, compute outstanding liabilities, issue demand notices, and oversee the recovery of unremitted pension funds.
The Director General noted that the use of Recovery Agents has been “instrumental and effective” since the recovery programme began in 2012.
Industry analysts say the continued growth in pension assets and tighter compliance enforcement could further strengthen confidence in the CPS, which has become one of the most significant sources of domestic capital for Nigeria’s financial markets.
As Nigeria navigates broader economic challenges, PenCom maintains that ensuring timely pension remittances and securing workers’ retirement savings remain its top priorities.
