Total assets under CPS rose by N184.68bn in Q3- report
By Kayode Tokede
A report by the National Pension Commission showed that total assets under the Contributory Pension Scheme (CPS) rose by N184.68billion to N3.25trillion in the third quarter of 2020.
According to its third quarter report, the public sector accounted for N117.7billion or 63.73 per cent while the private sector contributed N66.98billion or 36.27 per cent.
“The cumulative pension contributions received from both the public and private sectors from inception to the end of the third quarter of 2020, therefore, amounted to National Pension Commission, up from the N6.19trillion as at the end of the second quarter, 2020, representing a growth of 2.98 per cent.”
The aggregate total pension contributions of the public sector increased by 3.76 per cent from N3.13trillion as of the end of the second quarter, 2020 to N3.25trillion as of the end of the reporting period.
“The cumulative pension contributions received from both the public and private sectors from inception to the end of the third quarter of 2020, therefore, amounted to N6.37trillion, up from the N6.19trillion as at the end of the second quarter, 2020, representing a growth of 2.98 per.”
The aggregate total pension contributions of the public sector increased by 3.76 per cent from N3.13trillion as of the end of the second quarter, 2020 to N3.25trillion as of the end of the reporting period.
Similarly, the top 10 ranked PFAs accounted for 89.36 per cent of the total contributions while the bottom five and bottom 10 PFAs accounted for 1.83 per cent and 7.55 per cent of the total pension contributions respectively as of the end of the third quarter 2020.
The total value of pension fund assets was N11.56trillioon as at 30 September 2020 comprising of N8trillion of the RSA ‘Active’ Funds (i.e. RSA Funds I, II, III and V); N934.19billion of the RSA Retiree Fund; N1.44trillion of the CPFAs Fund; and N1.19trillion for the Approved Existing Schemes Funds.
As of the third quarter of 2020, the RSA funds (Funds I – V) had the largest portfolio, accounting for N8.76tn or 76.87 per cent of the total assets under management.
The CPFAs and AESs assets stood at N1.44tn and N1.19trillion, representing 12.65 per cent and 10.47 per cent respectively of the total assets under management.
