Pension assets soar to N11.57tn as PFAs invest N2.01tn in money market

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Chuks Udo Okonta

The pension fund assets stood at N11.57 trillion as at September 30, 2020, out of which N2.01 trillion was invested in local money market, the National Pension Commission (PenCom) has said.

PenCom stated this in its summary of pension funds portfolio for the period of September 30, 2020 published on its website, noting that N1.75 trillion was invested in bank placements and N262.01 billion in commercial papers.

According to PenCom Retirement Savings Account (RSA) registration within the period was 9.15 million.

It noted that N7.55 trillion of the pension assets was invested in federal government securities, of which N6.64 trillion went to bonds; N780.57 billion invested in treasury bills; N10.61 billion in agencies bonds; N107.58 billion in sukuk and N13.05 billion in green bonds.

The pension sector regulator posited that N150.33 billion was invested in state government securities; N585.77 billion in domestic ordinary shares; N76.45 billion in foreign ordinary shares; N17.64 billion in foreign money market securities and N54.57 billion in infrastructure.

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