Pension fund rises to N10.22 tr

PenCom recovers N16b  in seven years

PENSION fund assets at December last year have hit N10.22 trillion. It was N9.99 trillion in November of the same year.

The investment of the fund followed the same pattern as the previous month as pension fund administrators (PFAs) invested N7.34 trillion in Federal Government of Nigeria Securities, representing 71.8 per cent of the total fund. In the previous month, the PFAs invested N7.08 trillion representing over 70 per cent in FGN securities.

PenCom said the operators invested N2.88 trillion in state government’s securities; corporate bonds; corporate infrastructure bonds, corporate green bonds; supra-national bonds; local money market; commercial papers and banks.

Others are reits, foreign money market securities; private equity fund; real estate properties; infrastructure funds and cash & other assets.

PenCom’s Acting Director-General, Mrs. Aisha Dahir-Umar said the pension industry is one of the fastest growing industries in the country with the support of the organized private sector (OPS)  and labour.

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