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Chuks Udo Okonta
Pension fund assets gained N1.77 trillion between January 1, 2023 and June 30, 2023, the National Pension Commission (PenCom) has said.
PenCom also stated that the number of Retirement Savingsb Account (RSA) holders increased by 146,920, within the period, moving from 9,862,129 to 10,009,049.
PenCom in its unaudited report on pension funds industry portfolio for the period ended June 30, 2023, stated that the fund gained N654.33 billion between end of May and June 2023.
It submitted that N10.86 trillion of the N16.76 trillion fund assets were invested in Federal Government of Nigeria securities.
The breakdown according to PenCom revealed that N10.41 trillion was invested in Federal Government bonds; treasure bill got, N192.43 billion; agency bonds, N12.15 billion; sukku bonds, N15234 billion and green bonds N96.72 billion.
It maintained that the total pension contributions remitted to individual RSAs in Q1 2023 stood at ₦225.49 billion, adding that out of this total, the public sector accounted for ₦124.70 billion or 55.30 per cent, while the private sector contributed ₦100.79 billion or 44.70 per cent and that the cumulative pension contributions from inception to the end of the first quarter of 2023 amounted to N8.70 trillion.
It said the aggregate pension contributions of the public sector increased from N4.02 trillion in Q1 2022 to N4.15 trillion as at the end of Q2 2022 and that similarly, the aggregate pension contributions of the private sector also increased from N3.76 trillion in Q1 2022 to N3.86 trillion as at the end of Q2 2022.
