Pension assets hit N14.9trn as govt borrows N8trn


The National Pension Commission (PenCom) has revealed that pension fund assets have increased to N14.59 trillion as of the end of October 2022.Information Guide Nigeria

RIPPLES NIGERIA reports that this is a 7.20 per cent or N909 billion increase when compared to N13.6 trillion in January 2022.

This was disclosed by PenCom  in the monthly pension report that captured the assets under management by Pension Fund Administrators (PFAs).

The commission also revealed that the number of Retirement Savings Account (RSA) holders in the Contributory Pension Scheme now stand at 9,850,094.NYSC portal

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According to RIPPLES NIGERIA, it also revealed that 84,000 have enrolled into the Micro pension plan (MPP) as of the end of September.JAMB portal

Federal Government Securities continue to hold dominant position in the asset distribution on investments, accounting for 63.23 percent of the total assets, or N9.225 trillion, with FGN Bonds accounting for N8.840 trillion.

RIPPLES NIGERIA reports that Money market instruments followed with 14.91 per cent of the total assets under management, equal to N2.175 trillion, with fixed deposit/bank acceptance dominating with N2.036 trillion.

State government securities came in third with 10.46%, or N1.527 trillion, while domestic common shares came in fifth with N828.167 billion, or 5.68%, of the total assets.JAMB Result

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