Pension assets soar to N8.33trn as FG securities gulp N5.78trn

Acting Director General of PenCom, Mrs. Aisha Dahir-Umar

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Chuks Udo Okonta

The National Pension Commission (PenCom) says the total pension fund assets as at August 31, 2018, was N8.33 trillion, and N5.78 trillion of the amount has been invested in Federal Government’s securities.

PenCom stated this in its monthly report, which detailed the summary of pension fund assets as at August 31, 2018. According to the pension regulator, Retirement Saving Account (RSA) retiree fund which has been reclassified in the multi-Fund structure stood at, Fund I, N4.55 billion; Fund II, N3.69 trillion; Fund III, N1.96 trillion; Fund IV, N619.59 billion.

It noted that Closed Pension Fund Administrators Fund (CPFAs), was N1.08 trillion and Existing Schemes (ES), N957.50 billion.

PenCom posited that 69.30 per cent of the N8.33 trillion pension assets, was invested in Federal Government’s securities, which amounted to N5.78 trillion.

A breakdown of the investment according to the commission, revealed that FGN bonds got N4.22 trillion; treasury bills, N1.49 trillion; agency bond ( NMRC & FMBN) N10.91 billion; Sukuk bonds, N53.15 billion and green bonds, N6.96 billion.

PenCom maintained that state government securities gulped N154.43 billion; corporate bonds, N400.45 billion; corporate infrastructure bonds, N7.33 billion; banks, N849.09 billion; commercial papers, N116.76 billion and real estate properties, N226.64 billion.

Other classes of assets include, supra-national bonds, N6.67 billion; open/close end funds, N12.18 billion; mutual funds, N21.29 billion; private equity fund N38.57 billion; infrastructure fund, N16.07 billion; cash & other assets N24.56 billion and Reits, N9.10 billion.

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