NATIONAL Pension Commission, PenCom, has showcased  what it calls the successes of Nigeria’s Contributory Pension Scheme, CPS, at the 2013 World Pension Summit, in Amsterdam, Netherlands.

At the summit attended by  delegates from 40 countries, Acting Director-General of PenCom, Mrs Chinelo Anohu-Amazu, told the gathering that besides the fact the scheme had accumulated not less than N3.73 trillion, with over 5.8 million contributors since inception in 2004, the pool of assets generated had aided the deepening of Nigeria’s financial sector.

A statement by Emeka Onuora, Head, Communication Unit, PenCom, said Mrs. Anohu-Amazu equally informed the delegates that the CPS was sustainable, fully funded and privately managed by operators licensed by PenCom.

According to her “the legal and institutional frameworks established by the Commission have led to the registration of over 5.8 million members and the pool of pension assets generated has aided the deepening of Nigeria’s financial sector.

They have also provided a platform for the provision of infrastructure and the development of the real sector, thereby reinforcing the transformation agenda of President Goodluck Ebele Jonathan.”

The Acting Director-General led a delegation comprising Mrs. Grace Usoro, the General Manager/Head Public Sector Pensions Department and Ms. Olusola Odufuwa, Head Corporate Counseling Unit of the National Pension Commission (PenCom) to the Summit which took place between 13 and 14 November 2013.