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Pension fund assets gain N666bn in 6 months as total assets hit N11.09 trillion - The Revealer
Pension

Pension fund assets gain N666bn in 6 months as total assets hit N11.09 trillion

The National Pension Commission (PenCom), has released the current position of the Pension fund assets showing significant growth from N10.43 trillion in January to N11.09 trillion as June 2020, gained N666 billion in six months.

PenCom stated this in its released summary of pension fund assets as at June 30, 2020. The report revealed that the assets gained N666 billion from January 2020, where it stood at N10.43 trillion to June, where it peaked at N11.09 trillion.

The pension regulator noted that N7.46 trillion of the assets, which is 67.25 per cent, was invested in federal government securities, while, local money market securities got N1.62 trillion, amounting to 14.57 per cent.

It said N4.77 trillion of the assets was invested in RSA fund ll, while N32.32 million of micro pension contributions have so far been invested.

PenCom had recently initiated the process of reviewing the Pension Reform Act (PRA) 2014, which it said the initiative was to address identified challenges and public clamour.

It maintained that the review is with a view to reposition the Contributory Pension Scheme (CPS) and consolidate the gains of the pension reform for the benefit of Nigerians.

Edet Udoh

We are The Revealer, a general online news platform based in Nigeria. Our focus amongst others is to provide credible, factual, well researched and balanced news and articles for our teeming readers in business, governments, politics, engineering, science, religion, technology etc. Edet Udoh is the Managing Editor. He is an experienced media person. He has worked extensively with the Champion Newspapers, The Authority Newspapers and the Blueprint Newspaper before starting Revealer Online News platform in 2018. He can be reached with this email address: edetudoh2003@gmail.com or via these phone numbers 08061246427 and 08170080488

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