Total Pension Assets Hit N12.3trn

Latest data released by the National Pension Commission, (PenCom) has revealed that the Contributory Pension Scheme (CPS) hit N12.3 trillion in November 2020, despite the rise in the unemployment rate which has made thousands of workers withdrew from their Retirement Savings Accounts (RSAs).

The November figure, however, indicated a decrease compared to the N12.05 trillion recorded in October 2020.

Further analysis showed that the fund rose by 5.9 percent between September and November as the figure stood at N11.56 trillion as at September 2020.

Total Pension Assets Hit N12.3trn

Meanwhile, Federal Government securities continued to be the toast of Pension Fund Administrators (PFAs), as they invested 66.22 percent of the pension assets in FGN securities during the period which stood at N8.14 trillion.

A breakdown of the FG securities shows that FGN bonds got N7.4 trillion; Treasury Bills N642.02 billion; Agency bonds N6.02 billion; Sukuk N100.1 billion; while Green bonds got N11.8 billion.

Also, a total of N790.9 billion was invested in domestic ordinary shares; foreign ordinary shares got N17.33 billion; state government securities got N150.58 billion; corporate debt securities N731.57 billion; local money market securities N1.79 trillion; Mutual Funds N145.22 billion; Real Estate N158.60 billion; Private Equity Funds N31.70 billion; Infrastructure Funds N57.07 billion; and Cash and Other Assets N190.08 billion.

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