Pension fund assets soar to N17.07tn

Mrs. Aisha Dahir-Umar, DG PenCom

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Chuks Udo Okonta

Pension Fund assets has continued to gain traction as it stood at N17.07 trillion as at July 31, 2023, Inspenonline can report.

The National Pension Commission (PenCom) in its unaudited report on pension funds industry portfolio for the period ended July 31, 2023, released today, said the fund assets moved from N16.76 trillion in June to N17.07 trillion in July 2023, gaining N307.12 billion.

The pension industry regulator submitted that Retirement Savings Account (RSA) membership stood at 10.03 million, as against 10.01 million in June, gaining 16,265 contributors.

Finding by Inspenonline revealed that the fund assets gained N2.02 trillion between January to July 2023, moving from N14.99 trillion as at December 31, 2022 to N17.07 trillion in July 31, 2023, while 163,185 RSA holders were recorded, 9.86 million in December 2022 to 10.03 million in July 2023.

PenCom stated that N11.03 trillion of the N17.07 trillion pension fund assets, had been invested in Federal Government of Nigeria (FGN) securities, which breakdown showed that Federal Government bonds gulped N10.57 trillion; treasury bills, N198.81 billion; agency bonds, N10.98 billion; sukuk bonds, N154.75 billion and green bonds, N92.37 billion.

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