Contributors inject N1.85tn into pension fund in 11 months

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Chuks Udo Okonta

About N1.85 trillion was injected into the pension fund assets between January and November 2020 by Contributory Pension Scheme (CPS) subscribers, Inspenonline can report.

Data obtained from the National Pension Commission (PenCom) revealed that as at January 2020, the pension fund assets stood at N10.44 trillion and soared to N12.29 trillion by November 2020, showing an increase of N1.85 trillion.

The number of Retirement Savings Account (RSA) holders also moved from 8.93 million in January to 9.19 million.

However, as contributions and trade continued on a growth trajectory, the pension managers, Pension Fund Administrators (PFAs) invested more funds than before in Federal Government Securities.

The PFAs invested N7.50 trillion in FGN Securities in January and N8.14 trillion in November, representing 66.22 per cent of the total N12.29 trillion fund assets.

A breakdown of the fund shows that out of the N8.14 trillion invested in FGN Securities, FGN Bonds got N7.379 trillion; Treasury Bills N642.02 billion; Agency Bonds N6.02 billion; Sukuk N100.07 billion; Green Bonds N11.814 billion while Green Bonds got N11.814 billion.

Meanwhile, Domestic Ordinary Shares N790.85 billion; Foreign Ordinary Shares N17.33 billion; State Government Securities 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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