Pension fund assets soar to N14.99tn

Director General PenCom, Aisha Dahir-Umar

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Chuks Udo Okonta

The pension fund assets stood at N14.99 trillion as at December 31, 2022, the National Pension Commission (PenCom) has said.

PenCom in it report on pension industry portfolio for the period ended December 31, 2022, noted that the assets gained N199.17 billion between November and December as the fund stood at N14.79 trillion in November.

The pension sector regulator said the fund assets amounted to $33.42 billion placed at an exchange rate of N448.55 to one United States Dollar.

It said the Retirement Savings Account (RSA) membership as at the same period was 9,862,129, adding that 64.33 per cent of the assets, which was N9.64 trillion was invested in Federal Government of Nigeria securities.

It stated that state securities gulped N166.14 billion, Corporate debt securities, N1.66 trillion, 11.07 per cent and money market instrument N1.98 trillion, which was 13.23 per cent of the assets.

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