Nigeria. Pension fund assets now worth N13.88tr
Pension fund assets grew by N453.8 billion to a historic N13.88 trillion in the first of quarter of the year ended March 2022 (Q1 2022), and assets under management rose 3.38 per cent above N13.4 billion in December 2021.
Data compiled by the National Pension Commission (PenCom) also shows that 12,336 Pension Fund Administrator (PFA) contributors switched their Retirement Savings Accounts (RSAs) between PFAs in Q1 2022.
This is 4.2 per cent lower than the 12,874 who switched in Q4 2021 and brings the total number of transferred RSAs to 63,728 since Q4 2020.
Below is a further breakdown of the assets in Q1 2022:
- RSA Fund II – N6.06 trillion (43.6 per cent of the total)
- RSA Fund III – N3.69 trillion (26.7 per cent). Up by N158 billion
- Existing schemes – N1.42 trillion (10.2 per cent). Up by N64.56 billion
- Contributory Pension Fund Assets (CPFAs) – N1.54 trillion (11.1 per cent)
PFA investment in corporate debt securities rose to N1.01 trillion from N943.3 billion in Q4 2021. Up by N63.78 billion.
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