Pension Assets Rise to N12.34tn in March

By Ebere Nwoji

Nigeria’s total pension fund assets appreciated by N100 billion in March to rally at N12.34 trillion as against the N12.24 trillion recorded the previous month.

Data obtained from the National Pension Commission’s (PenCom) website yesterday revealed that for the period ended March 31, 2021, total Retirement Saving Accounts (RSAs) registered rose marginally to 9.30 million as against 9.27 million recorded in February. This meant that the commission within one month registered 30,000 §contributors through the various Pension Fund Administrators (PFAs).

Pension fund assets, which were N12.29 trillion in January 2021, had dropped to N12.24 trillion in February.

Of the various portfolios of investment where the assets were channelled to, PenCom stated that out of the N12.34 trillion assets, N8.51 trillion was invested in the federal government’s securities.

The federal government bonds gulped N7.67 trillion investment; treasury bills – N721.74 billion; agency bond – N12.91 billion; Sukuk bonds – N85.09 billion and green bonds got N12.88 billion investment allocation.

The report stated that in terms of the performance of the various fund structures, Fund Five for the period under review stood at N105.54 million as against the N99.10 million recorded in February; Fund Four stood at N976, 897.00 million against N973, 605.77 million it received in February.

Also, Fund Three yielded N3, 194,628.31 million as against N3,158,981.52 million recorded in February while Fund Two stood at N5,388,628.31 against N5, 367,002.47 in February.

Similarly, Fund One rose slightly to N38, 325.25 in March as against N37, 887.66 million posted the previous month.

Also, the total number of registered contributors grew from 9,265,141 contributors in February to 9,300,058 in March.

Director-General of PenCom, Mrs. Aisha Dahir-Umar, said PenCom had within the 16 years of the pension reform, been able to positively transform the sector in Nigeria.

She listed the commission’s scorecard to include the licensing of 22 PFAs, seven CPFAs, four PFCs and many approved existing pension schemes in the private sector.

According to her, RSA registration has reached 9.30 million as of March while the value of accumulated pension assets has hit N12.34 trillion as at the period.

The fund, she added, is currently invested in varied, but quality financial instruments, all tailored towards the development of the Nigerian economy and payment of pensions.