National Pension Commission (PenCom) has, in the last nine years, collected a total of N115.6 billion under the contributory pension scheme. The contributory pension scheme was introduced in 2004 following the introduction of the new pension scheme.
Mr. Mohammed Ahmad, director general of PenCom, who disclosed this in Enugu at a workshop organised for correspondents and business editors, said the commission collects about N15.408 billion yearly. This translates to a monthly collection of about N1.284 billion.
Ahmad also disclosed that the total assets worth over N 2.4 trillion have been accumulated as at November this year. He said that as part of its consolidation, the commission has raised the capital requirements for PFAs from N150 million to N1 billion.
He said that PenCom has intensified compliance mechanism by taking legal action against defaulting employers, adding that compliance by the informal has continued to receive a major boost in 2011 as two million membership of the national union of roads transport workers has signified intention to embrace the scheme. 
Ahmad expressed concern that operators in the private sector are not taking the issue of contributory pension scheme seriously as they ought to. He therefore urged the non compliant members to borrow a leaf from the National Union of Road transport Workers (NURTW) whose members subscribing to the scheme has risen to over two million.
Ahmad further disclosed that the number of state government that have commenced the implementation of the scheme has increased to 18. According to him, PenCom has obtained support of the Debt Management Office (DMO) as a condition that any state government desirous of issuing bonds must key into the contributory pension scheme.  He explained that the regulatory and supervisory philosophy of the commission is risk based and consultative, covering all activities of the commission with particular emphasis on issuance of guidelines and regulations, surveillance of licenced operators, compliance and enforcement, supervision of investment of pension funds and maintenance of databank on pension matters.
Ahmad said the commission has increased efforts in the on site inspection of employers, collaborate with regulatory and professional bodies, public enlightenment campaigns and applications of regimes of sanctions.