The National Pension Commission data warehouse has disclosed national pension statistics showing that in seven months pension assets increased by N470 bn, moving from N12.31tr as at December 31, 2020, to N12.78 tr by July 31, 2021.
The increase PenCom indicated, were rolled in by the retirement savings account RSA contributors and returns on investment. Also inching up are new contributors which swelled by 19,000 that joined the various pension fund administrators.
PenCom stated that N8.13 tr was invested in federal government securities as at December 2020, while N8.20 tr was invested by July 2021. Other investment platforms showed that as at December 2020, N136.59 bn was invested in state government securities, while N1.69 tr in the local money market, however, July 2021 reports showed a drop in state government securities with N89.68 bn invested and N2.11 tr invested in the local money market.
The Director-General (DG), National Pension Commission- PenCom, Mrs. Aisha Dahir-Umar, (pictured) giving an overview noted that the implementation of the CPS remains on course, and the number of registered contributors under the CPS has continued to grow while pension fund assets have accumulated to N12.78 tr as at July 31 2021.
PenCom boss Noted that the consistent growth trajectory continues to justify the Commission’s overriding investment philosophy of ensuring the safety of pension fund assets.