The pension fund assets stood at N9.37 trillion in July 2019, the National Pension Commission (PenCom) has said.
PenCom stated this in a summary of pension fund assets as at July 31, 2019, published on its website, adding that Pension Fund Administrators (PFAs) invested N6.63 trillion, which is 70.77 per cent out of the N9.37 trillion pension assets in Federal Government’s securities.
According to PenCom, investments in FGN securities include: N4.49 trillion amounting to 47.93 per cent in Bonds; N2.04 trillion in Treasury Bills (21.82 per cent); N10.10 billion in Agency Bonds (NMRC & FMBN), (0.11 per cent); N75.34 billion in Sukuk (0.80 per cent) and N9.88 billion in Green bonds, (0.11 per cent).
PenCom noted that in line with the Multi-fund structure, Retirement Saving Account (RSA) Fund 1, N16.73 billion was invested; RSA Fund 11, N4.12 trillion; RSA Fund 111, N2.29 trillion and RSA Fund IV, N757.62 billion.
It stated that N482.51 billion, which was 5.15 per cent of the funds, was invested in domestic ordinary shares; while N65.24 billion, amounting to 0.70 per cent in foreign ordinary shares.
The pension industry regulator maintained that pension operators invested N130.22 billion (1.39 per cent) in State Government’s Securities; Corporate bonds got N515.64 billion (5.50 per cent); Corporate debt securities, N534.37 billion, (5.70 per cent); Corporate Infrastructure bonds, received N5.34 billion, (0.50 per cent); Corporate Green Bonds, N13.40 billion, (0.14 per cent); Supra-National Bonds got N5.87 billion (0.06 per cent); commercial papers, N104.58 billion (0.1.12 per cent); Banks, N1.03 trillion (11.03 per cent).
Others are, Open/Close-end funds, N11.20 billion, (0.12 per cent); Reits, N11.79 billion, (0.13 per cent) Foreign Money Market Securities, N7.20 billion, (0.08 per cent); private equity fund, N33.33 billion, (0.36 per cent), Real Estate Properties, N241.11 billion, (2.57 per cent); infrastructure funds, N30.14 billion, (0.32 per cent) and cash & other assets, N46.76 billion, (0.50 per cent).
PenCom’s Acting Director-General, Aisha Dahir-Umar, had attributed the accumulation of over N9 trillion and other successes achieved since inception of implementation of the CPS to esteemed contributors. She called on contributors to continue to contribute positively towards the success of the pension reform program.
“The achievements recorded by the Commission in the last fifteen years would not have been possible without the support and understanding of all stakeholders, especially you, our esteemed contributors who are about to retiree. I therefore urge you to contribute positively towards the success of the Pension Reform Program,” she said.