Business
Pension Fund Hits N12.66trn – PenCom

The National Pension Commision (PenCom) said pension fund assets had risen to N12.66 trillion as at June 30, with contributors under the Contributory Pension Scheme (CPS) hitting the 9.38 million mark.
The Director General, PenCom , Mrs Aisha Dahir-Umar, said this at the 2021 Journalists Workshop held on Monday in Lagos, with the theme: Positioning the Pension Industry in the Post COVID-19 Era.
Dahir-Umar, represented by Mr Peter Aghahowa, Head, Corporate Communication, PenCom, noted that the consistent growth trajectory justified the commission’s overriding investment philosophy of ensuring the safety of pension fund assets.
She assured pension stakeholders that the implementation of the CPS remained on course.
Dahir-Umar stated that the emergence of the Covid-19 pandemic necessitated a review of business processes across various organisations, which made it imperative for the commision to deepen technology innovation.
“Covid-19 has engendered socio-economic disruptions of the entire global order, with multifarious challenges in conducting hitherto routine activities.
“It was, therefore, imperative for the commission to deepen technological innovation to navigate through the challenges imposed by the pandemic.
“The most recent technological innovation introduced by the commission is the in-house designed and developed online enrolment application.
“The application has capabilities to register, verify and enroll prospective retirees of Treasury-Funded Federal Ministries, Departments and Agencies (MDAs),” she said.
According to her, by the deployment of this new application, mass gathering of people has been avoided while enhancing convenience for the prospective retirees through a seamless enrolment process.
The DG mentioned that another notable technological innovation by the commission was the design and deployment of the Retirement Savings Account (RSA) Transfer System (RTS), which was launched in November 2020.
She emphasised that public enlightenment and education was one of the five strategic focus areas currently pursued by the commission.
“This is considered germane considering that 17 years after the pension reform in Nigeria, there still exists a knowledge gap on the CPS.
“Consequently, the commission is committed to reinvigorating its public enlightenment and education drive in order to address this challenge,” she said.
According to her, other strategic focus areas of PenCom include the resolution of outstanding pension liabilities of the Federal Government; portfolio diversification of pension fund investments.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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