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Chuks Udo Okonta
Worried about the impacts of inflation on savings, the National Pension Commission (PenCom) has said it would work to ensure that pension fund operators generate inflation plus returns for retirees and Retirement Savings Account (RSA) holders.
The Director General of PenCom Ms. Omolola Oloworaran, said this at an event recently held in Lagos, adding that the pension industry would be better positioned when its fund assets are effectively diversified.
“We want to encourage pension fund operators to invest in alternative assets, essentially diversifying their portfolio.
“Currently, pension fund assets are in excess of N24 trillion and the majority of these funds are invested in traditional income instruments – Federal Government bonds and Treasury bills.
“Now what we need to do as an industry is how can we diversify that portfolio to ensure we generate inflation plus returns for retirees and RSA holders?” She posited.
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