PFAs register 9,000 RSA holders in five months, as pension assets soar to N10.80tn

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Chuks Udo Okonta

Pension Fund Administrators (PFAs) registered 9,000 Retirement Saving Account (RSA) holders between January and May 2020, even as pension fund assets have soared to N10.80 trillion, Inspenonline can report.

Data obtained from the National Pension Commission (PenCom) revealed that RSA registration in January was 8.93 million and stood at 9.02 million in May, 2020.

The commission also reported that pension fund assets stood at N10.80 trillion in May, noting that N7.20 trillion of the assets, which is 66.74 per cent was invested in federal government securities.

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