Pension fund assets grow by N132.57 bn  to N15.58trn in March 2023

The Total Pension fund assets under the Contributory Pension Scheme (CPS) have grown approximately to N15.58 trillion in March 2023 compared to N15.45 trillion in February 2923 said the  National Pension Commission (PenCom).

The Pension Fund Assets increased approximately by N132.57 billion in March 2023 when compared with N184.10 billion recorded in February 2023.

PenCom stated this in an unaudited report on pension funds industry portfolio for the period ended 31, March 2023, adding that Retirement Savings Account (RSA) membership as the period stood at N9.95 million.

The pension sector regulator maintained that of the N15.58 trillion, N10.19 trillion – 65.44 per cent has been invested in Federal Government of Nigeria (FGN) securities.

According to PenCom, the breakdown revealed that N9.78 trillion was invested in FGN bonds; N185.51 billion in treasury bills; N11.28 billion in agency bonds; N157.34 billion in sukuk and N58.10 billion in green bonds.

It said state governments’securities gulped N162.19 billion; corporate debt securities, N1.69 trillion and money market instruments, N1.75 trillion.