Pension assets gained N2.48tn in 2020

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Chuks Udo Okonta

Pension fund assets gained N2.48 trillion in 2020, as contributed fund which stood at N9.81 trillion as at January 1, 2020, peaked at N12.29 trillion by December 31, 2020.

Data obtained from the National Pension Commission (PenCom) revealed that as at December 31, 2019, the pension fund assets stood at N9.81 trillion and soared to N12.29 trillion by December 2020, showing an increase of N2.48 trillion.

The number of Retirement Savings Account (RSA) holders as at the end of December, was 9.22 million, PenCom said.

Contributions and trade continued on a growth trajectory, as the pension fund managers, spread their assets under management across approved investments portfolios.

The PFAs as at the end of December, had invested N8.13 trillion in federal government’s securities.

A breakdown of the fund showed that out of the N8.13 trillion invested in FGN Securities, FGN Bonds got N6.83 trillion; Treasury Bills N628.22 billion; Agency Bonds N9.49 billion; Sukuk N646.93 billion and Green Bonds N13.05 billion.

Domestic Ordinary Shares got N858.46 billion; Foreign Ordinary Shares N92.92 billion; State Government Securities N136.59 billion; Corporate Debt Securities N836.34 billion; Local Money Market Securities N1.69 trillion; Foreign money market, N18.69 billion; Infrastructure Funds N66.43 billion; Bank Placements, N1.53 trillion; Commercial Papers, N156.69 billion and Cash and Other Assets N122.79 billion.

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