Bisi Bamishe
Pension fund assets rose to N12.78 trillion at the end ofJuly 2021.
The National Pension Commission (PenCom) in its recent data stated that pension fund assets which was N12.31 trillion as at December 31, 2020, rose to N12.78 trillion by July 31, 2021, indicating an increase of N47 billion.
Also, a total of 19,000 retirement savings account holders joined the contributory Pension Scheme (CPS) within the period under review.
On investment side, N8.13 trillion was invested in federal government securities as of December 2020, while N8.20 trillion was invested by July 2021.
PenCom stated that as of December 2020, N136.59 billion was invested in state government securities, N1.69 trillion in the local money market, while N89.68 billion was invested in state government securities in July 2021 and N2.11 trillion invested in the local money market.
The Director-General, National Pension Commission (PenCom), Mrs. Aisha Dahir-Umar reassured stakeholders that the implementation of the CPS remains on course, adding that number of registered contributors under the CPS has continued to grow while pension fund assets have accumulated to N12.78 trillion as of July 31 2021.
She disclosed that the maintenance of a consistent growth continues to justify the Commission’s overriding investment philosophy of ensuring the safety of pension fund assets.
