May 27, 2021

Pension assets rise 0.8% to N12.4trn

The Nigerian Pension Industry – A journey with definite destination (2)

Investment in FG securities declines

By Rosemary Iwunze

Total Pension Fund assets of the Contributory Pension Scheme, CPS, increased by 0.8 per cent Month-on-Month, MoM, to N12.4 trillion in April 2021 from N12.3 trillion recorded in March 2021.

According to the unaudited report on pension funds industry portfolio for the period ended 30 April 2021 released by the National Pension Commission PenCom yesterday, the total Retirement Saving Account (RSA) registration rose marginally by 0.3 per cent to 9.33 million from 9.3 million recorded in March.

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

Further analysis reveal 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 while investments in green bonds went up by 518.6 per cent to N79.8 billion from N12.9 billion.

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.