Nigeria’s Pension Fund Assets Hit N10.79trn
Nigeria’s total pension fund assets rose to N10.79trn in May 2020,
This was contained in the monthly Summary of Pension Fund Assets published on the National Pension Commission website.
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According to the report 68.8 per cent which is about N7.2trn of the fund was invested in Federal Government’s securities while N17bn was invested in Private Equity Fund,
The PenCom report stated that the sum of N1.58trn was invested in Local Money Market securities while N758bn was put in Corporate Debt Securities.
As of May this year, the number of Retirement Savings Account holders grew to 9,016,324.
It also stated that the pension fund which had been reclassified into the Multi-Fund structure – Fund I, Fund II, Fund III, Fund IV, and Fund V – stood at N25bn, N4.67trn, N2trn, N582.2bn and N24.8m, respectively.
