Total assets under the Contributory Pension Scheme rose to N14.06tn as at April, following a N640 billion increase, in the first four months of 2022, data from the National Pension Commission (PenCom) has shown.
PenCom in its latest report titled, ‘Unaudited report on pension funds industry portfolio for the period ended 30 April 2022; Approved Existing Schemes, Closed Pension Fund Administrators and RSA funds (Including unremitted contributions @CBN & legacy funds).’
The funds, which ended December 31, 2021, at N13.42 trillion, rose to N13.61 trillion and N13.76 trillion as of the end of January and February 2022 respectively.
It rose to N13.88 trillion by the end of March, according to the data.
The data showed that N8.56 trillion of the total funds was invested in federal government securities, comprising bonds and treasury bills.
Other investment portfolios where the funds were invested included: domestic and foreign ordinary shares; corporate debt securities comprising corporate bonds; corporate infrastructure bonds; corporate green bonds, and supranational bonds.
PenCom also disclosed that the total number of workers with Retirement Savings Accounts rose slightly to 9.648 million by the end of April, from 9.529 million at the end of December 2021.