Pension Fund Assest Rises To N15.44Trillion

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Between the first and second month of this year, Nigeria’s pension fund asset rises from N14.99 to N15.44Trillio in two months. 

Speaking to the record shown by the National Pension Commission (PenCom)  the fund increased by N266 billion in January this month, the total at the end of January was N15.26 trillion.

Speaking on the report  February, the fund increase by another N183 billion to make the pension Fund Assets N15.44 trillion at the end of February 2023, making a cumulative N449 billion growth recorded on the assets within the first two months of the year.

According to the unaudited report on the other pension funds industry for February, the sum of N9.92 million is the number of Retirement Savings Account (RSA) holders.

As it is known that investment income was an instrument of the continuous growth in pension funds. 

Similarly, the huge increase, according to findings, was attributed to new pension contributions received, interest from fixed-income securities, and net realized on equities and mutual fund investments.

Mrs. Aisha Dahir-Umar, the director general of the National Pension Commission (PenCom),  the growth in the pension fund assets under the new pension scheme is an indication of prudent and sincere management of the pension fund by the pension operators and the regulator.

“The maintenance of a consistent growth trajectory continues to justify the Commission’s overriding investment philosophy of ensuring the safety of pension fund assets,” she said.

 Oguche Aguda, the executive secretary/CEO of the Pension Fund Operators Association of Nigeria, made it known to them that pension contributors' funds are in safe hands.

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