Pension Fund Assets Hit N12.66trn
The nation’s pension fund assets rose significantly to N12.66 trillion as at the end of June, 2021.
As at the end of March, 2021, the assets had stood at N12.34trillion, hence, increasing by N320 billion between April and June, 2021.
Speaking at the ongoing 2021 Journalists Workshop programme, organised by the National Pension Commission(PenCom) in Lagos today, the director general, PenCom, Mrs. Aisha Dahir-Umar, said, the growth in the pension fund assets under the new pension scheme, is an indication of prudent and sincere management of the pension fund by the pension operators and the regulator.
According to her, “the number of registered contributors under the CPS has grown to 9.38 million while pension fund assets have accumulated to N12.66 trillion as at 30 June 2021. The maintenance of a consistent growth trajectory continues to justify the Commission’s overriding investment philosophyof ensuring the safety of pension fund assets.”
Dahir-Umar, who was represented by the head, corporate communications, PenCom, Mr. Peter Aghahowa, added that, the regulator will continue to dish out policies that will enhance the growth of the pension assets as well as investment options that will ensure that the assets are not depleted.
Earlier, the nation’s pension fund assets rose by N100 billion to N12.34 trillion in March, 2021 from N12.24 trillion it was at the end of February.
In an unaudited report for the month of March 2021, released by the National Pension Commission (PenCom), the total number of pension contributors also rose from 9.27 million to 9.30 million Retirement Saving Account (RSA) holders as at March, 2021
The assets stood at N12.29 trillion in January, but dropped to N12.24 trillion in February, owing to investment loss, before it picked up in March, 2021 to the aforementioned amount.
Similarly, N8.51 trillion was invested in federal government’s securities, as bonds gulped N7.67 trillion investment; treasury bills, N721.74 billion; agency bond, N12.91 billion; Sukuk bonds, N85.09 billion and green bonds N12.88 billion.
Investment income was instrumental to the continuous growth in pension fund, despite the fact that governments at majorly, State level are not paying the monthly pension contributions of their workers as and when due.
Similarly, the huge increase, according to findings, was attributed to new pension contributions received, interest from fixed income securities and net realised on equities and mutual fund investments.