TheCable

The National Pension Commission (PenCom) says the total assets under the contributory pension scheme (CPS) rose to N12.3 trillion by December 2020.

This is about N2.1 trillion higher than the figure recorded at the end of 2019.

These figures are contained in PenCom’s pension fund assets report collated from January to December 2020.

In January 2020, pension fund assets under PenCom’s CPS was N10.43 trillion; N10.51 trillion in February; N10.33 trillion in March; N10.58 trillion in April.

In May 2020, total pension fund assets stood at N10.80 trillion; N11.09 trillion in June; N11.31 trillion in July; N11.35 trillion in August.

Meanwhile, in September 2020, total pension fund assets were N11.57 trillion; then rose to N12.05 trillion in October; N12.30 trillion in November; and N12.30 trillion in December.

According to the commission, the pension fund assets were invested in treasury bills, FGN bonds, Sukuk, green bonds, corporate debt and local money market securities; mutual funds; and the domestic and foreign ordinary shares.

As at the end of 2020, the total number of retirement saving accounts (RSA) registered was 9.21 million.

In January 2020, the total number of RSAs registered was 8.93 million; 8.97 million in February; 8.99 million in March; 9.01 million in April.

In May 2020, the total number of RSAs stood at 9.02 million; 9.04 million in June; 9.07 million in July; 9.10 million in August.

Meanwhile, in September 2020, the total number of RSAs rose to 9.15 million; 9.17 million in October; 9.19 million in November; and 9.21 million in December.