Pension Assets Rise To N12.4trn

 Pension Assets Rise To N12.4trn

The total pension fund assets of the Contributory Pension Scheme increased by 0.8 percent Month-on-Month, to N12.4 trillion in April 2021.

This is according to the unaudited report on pension funds industry portfolio for the period ended 30 April 2021 released by the National Pension Commission PenCom.

The data showed that the funds rose to N12.34 trillion as of the end of March from N12.25 trillion in February and N12.29 trillion recorded as of January 2021. 

The total Retirement Saving Account registration rose marginally by 0.3 percent to 9.33 million from 9.3 million recorded in March.

The Director-General of PenCom, Mrs. Aisha Dahir-Umar, said the fund 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.

Breakdown Analysis

A breakdown of the figures shows that investment in federal government securities declined by 2.5 percent to N8.3 trillion from N8.51 trillion.

Further analysis revealed that investments in federal government bonds declined by 2.6 per cent to N7.5 trillion from N7.7 trillion.

Treasury bills investments went down by 4.3 per cent to N690.4 billion from N721.7 billion; investments in agency bond increased by 0.8 per cent to N13 billion from N12.9 billion; investments in Sukuk bonds declined by 6.8 per cent to N79.3 billion from N85.1 billion.

Also, investments in green bonds went up by 518.6 per cent to N79.8 billion from N12.9 billion.

Kehinde Ogunyale

Freelance Investigative and Data Journalist

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