Nigeria Grows Pension To N12.4 Trillion – PenCom

Yemisi Izuora

Nigeria’s total Pension Fund has grown to N12.49 Trillion as at May 2021, says the National Pension Commission (PenCom).

In the industry report posted on its website on Thursday, PenCom said the country’s pension funds stood at N12.49 trillion as of May a figure that is N95 billion more than the N12.39 trillion reported in April.

The breakdown of the value of asset showed that Pension Fund Administrators (PFAs) increased their exposure to corporate debt securities by N110.3 billion to N904.96 billion during the period.

The Federal Government securities increased from N8.316 trillion in April to N8.348 trillion in May while PFA investment in local money market dropped from N1.736 trillion in April to N1.653 trillion one month later.

PenCom also revealed that funds in the Retirement Savings Accounts (RSAs) increased from N9.32 million in April to N9.35million in May.

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