PFAs Invest N54.35bn Pension Funds In Infrastructure

Pension Funds Administrators have invested N54.35bn of the total assets under the Contributory Pension Scheme in infrastructure as of the end of April.

Figures obtained from the National Pension Commission on Wednesday revealed that the total assets under the scheme stood at N10.57tn.

Under the Pension Reform Act 2014, the PFAs are allowed to invest the accumulating funds in different investment portfolios, which are in the custody of the Pension Fund Custodians.

Some of the funds were invested in agency bonds, supranational bonds, commercial papers, foreign money market securities, and open/closed-end funds.

Other investment portfolios where the operators invested the funds are real estate investment trusts, private equity funds, cash and other assets.

The acting Director-General, PenCom, Mrs Aisha Dahir-Umar, said the scheme had been experiencing growth since its inception.

She said the growth justified the commission’s emphasis on the safety of pension funds as the bedrock of sustaining the CPS, and assured that the pension reform remained steadily on course.

“These modest milestones notwithstanding, the commission and pension operators are committed to actualising the growth potential of the pension industry,” she said.