According to Daily Trust, 26 states have not yet fully implemented the Contributory Pension Scheme (CPS) for its employees nationwide, despite pension funds continuing to rise steadily.
According to our reporter, the National Pension Commission’s most recent statistics indicates that Nigeria’s pension sector continued to rise in May 2025, with total pension fund assets reaching N24.10 trillion, up 1.91% month over month from N23.65 trillion in April.
One of Nigeria’s social security reforms, the Contributory Pension Scheme (CPS), was implemented to address decades’ worth of pension obligations and guarantee workers’ sustainability in retirement income.A certain percentage of monthly salaries is contributed by both employers and employees to individual Retirement Savings Accounts (RSAs), which are overseen by certified Pension Fund Administrators (PFAs), according to its fundamental tenet.
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