Staff Writer
According to the National Pension Commission, the Contributory Pension Scheme’s assets increased by roughly N2 trillion in the first half of 2023.
Figures for “Approved Existing Schemes, Closed Pension Fund Administrators, and RSA Funds (Including unremitted contributions @CBN & legacy funds)” were obtained by The PUNCH from PenCom’s unaudited report on pension funds sector portfolio for the period ending 30 June 2023.
The numbers show that the assets increased from N14.99 trillion in December 2022 to N16.76 trillion at the end of June 2023.
The amount of assets primarily invested in Federal Government securities increased from N9.64 trillion to N10.86 trillion.
Additionally, the number of people with retirement savings accounts increased from 9,862,129 in December 2022 to 10,009,049 at the end of June 2023.
The funds were also placed in other investment portfolios, which included domestic and international common stocks, as well as corporate debt securities such as corporate bonds, corporate infrastructure bonds, corporate green bonds, and supranational bonds.
