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Pension asset increases to N9.33 trillion – PenCom

Damilare Famuyiwa by Damilare Famuyiwa
September 17, 2019
in Business News
PenCom, unremitted pensions, Lagos State Pension Commission, LASPEC, Pension Fund Assets, PFAs make N1.69 trillion ROI  

Acting Director-General, PenCom, Aisha Dahir-Umar.

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The National Pension Commission (PenCom) has disclosed that the worth of pension assets increased from N7.44 trillion in January 2019 to N9.33 trillion as at the end of June 2019.

Speaking at a one-day workshop in Port Harcourt, Rivers State, the commission’s Acting Director-General, Aisha Dahir-Umar, attributed the rise to the support from the Organised Private Sector (OPS) and labour.

Dahir-Umar, who was represented at the event by Salihu Bwala, explained that PenCom was able to recover N16 billion unremitted pension contributions from various employers of labour in the last seven years.

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“The pension industry is one of the fastest-growing industry in the country with the support of the OPS  and labour. The contributory pension scheme plan currently has over N9 trillion pension assets. This feat could not have been achieved without the support of the OPS,” Dahir-Umar said.

[READ MORE: Pension Fund Assets hits N9.3 trillion as investment in FGN securities drops]

Breakdown: According to the commission, the Federal Government’s securities took the lion-share of the investment as it received over N6.51 trillion, representing 72.9% of the total assets. Specifically, the Federal Government’s bond got N4,458,806.38 of the funds, representing 49.37% of the total assets while N1.94 trillion was invested in treasury bills (21.44%); N11.96 billion in Agency Bonds (NMRC & FMBN), (0.13%); N94.11 billion in Sukuk (1.04%) and N8.51 billion in Green Bonds, (0.09%).

Nigerian Pension Fund

The commission also said in line with the Multi-fund structure, Retirement Saving Account (RSA) Fund 1, witnessed N12.73 billion investment and RSA Fund 11, recorded N3.99 trillion investment, RSA Fund 111, saw N2.15 trillion investment while RSA Fund IV, recorded N732.13 billion investment.

Furthermore, the report showed that N596.61 billion, which was 6.54% of the funds, was invested in domestic ordinary shares while N62.59 billion, amounting to 0.69% was invested in foreign ordinary shares.

Similarly, while N144.31 billion (1.60%) was invested in state government’s securities, corporate bonds got N463.99 billion (5.4%); corporate infrastructure bonds received N8.64 billion, (0.10%); corporate green bonds N5.46 billion(0.06%); supra-national bonds got N5.37 billion (0.06%); local money market N874.39 billion (9.68%); commercial papers N64.46 billion (0.71%); banks – N809.94 billion (8.97%).

[READ MORE: Nigeria’s pension contributors add N186.43 billion to pension asset]

Others were REITS – N14.27 billion, (0.16%); Foreign Money Market Securities – N22.54 billion (0.25%); private equity fund -N32.34 billion, (0.36%), Real Estate Properties – N231.37 billion (2.56%); infrastructure funds N29.40 billion, (0.33%) and cash & other assets N25.16 billion, (0.28%).


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Tags: Aisha Dahir-UmarNational Pension Commission (PenCom)Pension assetsSalihu Bwala
Damilare Famuyiwa

Damilare Famuyiwa

Famuyiwa Damilare is a trained journalist. He holds a Higher National Diploma (HND) in Mass Communication at the prestigious Nigerian Institute of Journalism (NIJ). Damilare is an innovative and transformational leader with broad-based expertise in journalism and media practice at large. He has explored his proven ability in the areas of reporting, curating and generating contents, creatively establishing social media engagements, and mobile editing of videos. It is safe to say he’s a multimedia journalist.

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