The Director General of the National Pension Commission PENCOM,Mrs Chinelo Anohu- Amazu has said that the pension asset in the Contributory Pension Scheme, has grown to over N5tn.She said this while speaking at the second edition of the World Pension Summit Africa Special.She confirmed that a micro pension plan would be launched before the end of the year and also guidelines for the access for mortgages allowing Retirement Savings
Account contributors to use a portion of their RSA for acquisition of
their primary homes.” She also said there are plans to invest the funds in infrastructure, although there is no approval yet, a lot of caution is being taken until there is a guarantee for the funds.
She said, “We need to find a way so that a significant portion of
this fund is channeled towards development of infrastructure, real
estate and other social needs.
“However, this channeling must not be done without the highest form
of security and this is where the government comes in because they can
do that by way of guarantees.
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