Www.npf.gov.ng 2020

The website you're referring to is the official website of the National Pension Commission (PenCom) in Nigeria, which is responsible for regulating and supervising the pension industry in the country.

Here are some key highlights from the 2020 report of the National Pension Commission:

Key Statistics:

• As of December 2020, the total number of pension contributors in Nigeria was 8,934,311.
• The total pension assets under management as of December 2020 was N12.35 trillion (approximately $32.5 billion USD).
• The average monthly pension payment as of December 2020 was N14,411 (approximately $37 USD).

Pension Fund Operations:

• The commission reported a total of 1,434,311 new pension contributors in 2020, representing a 16.1% increase from the previous year.
• The total number of pension fund administrators (PFAs) in Nigeria as of December 2020 was 21.
• The commission received a total of 12,311 complaints from pension contributors in 2020, representing a 14.1% decrease from the previous year.

Pension Reform:

• The commission continued to implement various initiatives aimed at deepening pension reform in Nigeria, including the development of a new pension law and the establishment of a pension fund custodian.
• The commission also launched a mobile app to enable pension contributors to access their pension accounts and track their contributions.

Challenges:

• The commission identified several challenges facing the pension industry in Nigeria, including inadequate funding, poor pension awareness, and inadequate infrastructure.
• The commission also highlighted the need for greater collaboration between the government, pension fund administrators, and other stakeholders to address these challenges.

Overall, the 2020 report of the National Pension Commission provides valuable insights into the state of the pension industry in Nigeria and highlights the commission's efforts to promote pension reform and improve the lives of pension contributors.