ICYMI: Pension fund swells to N9.12 trillion

Pension contributors injected N21 billion into the pension fund assets in the second quarter of this year.

The National Pension Commission (PenCom) revealed this in its monthly report on the summary of pension fund assets and Retirement Saving Account (RSA) registration published on its website.

According to the pension industry regulators, the pension fund assets stood at N9.12 trillion in the month of April and moved to N9.33 trillion in June 2019, showing an inflow of N21 billion.

PenCom also posited that there was an increase of N18 billion in total RSA fund as it moved from N6.94 in April to N7.12 in June, whilst investment in federal government securities fell by N6 billion, falling from N6.55 trillion in April to N6.49 in June and RSA Fund 11, which has continued to attract more invested moved from N4.02 trillion to N4.10 trillion, increasing by N8 billion.

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PenCom’s Acting Director-General, Mrs Aisha Dahir-Umar, had attributed the accumulation of over N9 trillion and other successes achieved since the inception of implementation of the CPS to esteemed contributors.

She called on contributors to continue to contribute positively towards the success of the pension reform programme.

“The achievements recorded by the Commission in the last fifteen years would not have been possible without the support and understanding of all stakeholders, especially you, our esteemed contributors who are about to retire.

“I, therefore, urge you to contribute positively towards the success of the Pension Reform Programme,” she said.