Nigeria’s pension fund assets hits N13trn as contributors increase to 9.46mn
Nigeria’s pension fund assets soared to over N13 trillion ($31.69 billion) in September 2021, up from N12.9 trillion recorded in August, according to the National Pension Commission (PenCom).
According to the Commission’s unaudited report published on its website, the number of retirement savings account (RSA) registrations increased to 9.46 million during the period, being an addition of 245,385 new registrations.
Of the total sum, investment in FGN securities accounted for N8.22 trillion being 63.2 percent of the total asset, while N2.29 trillion were invested into local money market instruments.
The sum of N968.26 billion was invested in corporate debt securities being 7.4 percent of the total fund, while investments in mutual funds was N116.84 billion
Assets in Fund I totaled N45.14 billion, fund II category increased by N315.12 billion in the period, from N5 trillion in December 2020 to N5.67 trillion as of the end of September 2021.
RSA fund III, IV, V, VI and the Sharia Compliant pension stood at N3.4trillion, N1.05trillion, N196.9million and N7.8billion respectively in the period.