RSA (retirement savings account) contributions of workers invested into different asset classes to grow the earnings of contributors up and until retirement has ballooned to N9.44tr as at the end of Q4 2021, out of the total value of pension fund of N13.42tr at same period.
The NAT (net asset value) of the RSA ‘active’ funds includes RSA ‘active’ funds I, II, III, fund V as well as fund VI (non-interest fund, active and retiree) was N9.44tr as at 31 December 2021, representing a growth of N339.58bn (3.73%), as the NAV increased from N9.10tr as at 30 September, 2021 to N9.44tr as at 31 December, 2021. Funds invested in the non-interest fund VI was N16.13bn, which is inclusive of the total active funds.
The National Pension Commission (PenCom), Fourth Quarter 2021 Report, cleared that these figures were exclusive of the balance of N49.58bn and N43.0bn in respect of the contributions of FGN workers awaiting transfers to PFAs as at 30 September 2021 and 31 December 2021, respectively.
PenCom also stated that RSA fund II, which is the default RSA fund under the multi-fund structure, “maintained the largest share of the active RSA funds as it represented 61.99% of the RSA ‘active’ funds,” which is N5.83tr.
RSA fund II followed with 37.51% representing N3.54tr, the third distant active fund was RSA fund I with 0.51% accounting for N48.40bn, followed by RSA fund VI, 0.15% this accommodated N14.44bn, the least on the rung was RSA fund V with N221.18 million, with a near negligible mathematical representation of 0.00%