Pension

Pension fund assets rebound soared to N12.34tn in March

Mrs. Aisha Dahir-Umar

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Chuks Udo Okonta

The pension fund assets has rebounded gaining about N100 billion as at the month of March 2021, moving from N12.24 trillion in February to N12.34 trillion.

According to the National Pension Commission (PenCom) in its unaudited report of pension fund industry portfolio for the period ended March 2021, the total Retirement Saving Account (RSA) registration also soared to 9.30 million as against 9.27 million recorded in February.

The pension fund assets which was N12.29 trillion in January, dropped to N12.24 trillion in February, pension had said earlier.

The pension sector regulator noted that of the N12.34 trillion assets, N8.51 trillion had been invested in federal government’s securities.

It noted that federal government bonds gulped N7.67 trillion investment; treasury bills, N721.74 billion; agency bond, N12.91 billion; Sukuk bonds, N85.09 billion and green bonds N12.88 billion.

Director-General of PenCom, Mrs. Aisha Dahir-Umar, noted that PenCom had, within the 16 years of the pension reform, been able to positively transform the pension sector in Nigeria, stressing that the commission’s scorecard includes many positive feats, like the licensing of 22 PFAs, 7 CPFAs, 4 PFCs and many Approved Existing Pension Schemes in the private sector.

She maintained that RSA registration has reached 9.30 million as at March 2021 and the value of accumulated pension assets has also reached N12.34 trillion as at March 2021. The fund, she said is currently invested in varied but quality financial instruments, all tailored towards the development of the Nigerian economy and payment of pensions under the CPS is now seamless, prompt and consistent.

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