Nigeria. ‘Pension fund assets rise by N1.53 trillion in one year’
The National Pension Commission (PenCom) has released its First Quarter One 2022 Report, showing strong growth in pension fund assets and scheme memberships.
The report shows that the total value of Pension Fund Assets under the management of Pension Fund Administrators (PFAs) increased by N1.53 trillion yearly from N12.34 trillion recorded as of the end of Quarter One 2021 to N13.88 trillion as of the end of Quarter Two of 2022.
Quarterly, total pension assets rose by N46 billion from the N13.42 trillion recorded at the end of Quarter Four 2021 to N13.88 trillion at the end of Quarter One 2022.
The growth in pension fund assets was mainly due to contributions received and market valuation of Federal Government bonds and quoted equities.
According to the commission, pension fund assets were mainly invested in Federal Government Securities and quoted domestic ordinary shares.
The value of investments in quoted domestic ordinary shares increased by N28.95 billion to N944.26 billion. The asset class represented 6.80 per cent of total pension assets.
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