Total assets under the Contributory Pension Scheme rose by N460bn in three months to N13.88tn in March, according to figures from the National Pension Commission released on Friday.

This was contained in the National Pension Commission’s latest report titled, ‘Unaudited report on pension funds industry portfolio for the period ended 31 March 2022; Approved Existing Schemes, Closed Pension Fund Administrators and RSA funds (Including unremitted contributions @CBN & legacy funds).’

The funds, which ended December 31, 2021, at N13.42tn, rose to N13.61tn and N13.76tn as of the end of January and February 2022 respectively.

The data showed that N8.5tn of the total funds was invested in Federal Government securities, comprising bonds and treasury bills in March.

The amount represented 61.24 per cent of the total assets under the Contributory Pension Scheme.

Other investment portfolios where the funds were invested included: domestic and foreign ordinary shares; corporate debt securities comprising corporate bonds, corporate infrastructure bonds, corporate green bonds, and supranational bonds.

PenCom also disclosed that the total number of workers with Retirement Savings Accounts rose slightly to 9.589 million as of end of February, from 9.529 million as of end of December 2021.

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