Total pension fund assets hit N12.3tn in 2020

The National Pension Commission (PenCom) says the total assets under the contributory pension scheme (CPS) rose by N2.1trillion to N12.3 trillion from N10.2 trillion as of the end of 2019.

This was contained in the commission’s recent report, titled: ‘Summary of pension fund assets as at December 31, 2020 published on its website on Thursday.

According to the report, N8.13 trillion was invested in Federal Government of Nigeria Bonds compared to N7.34 billion invested in 2019.

Read also: NLC asks governors to steer clear of pension funds

These securities include treasury bills; FGN bonds, Sukuk; agency, and green bonds.

Other areas where the funds were invested include N858.46 billion and N92.91billion invested in domestic and foreign ordinary shares respectively.

Local money market securities and mutual funds got N1.68trillion and N161.39 billion investment respectively.

The report added that as of December, the total number of retirement savings account (RSA) registered increased from 9.19 million in November 2020 to 9.21 million in December 2020.

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