PenCom Records N21bn Growth On Pension Assets In Q2 2019

Data obtained from the National Pension Commission (PenCom) shows that pension assets in the second quarter of 2019 increased by N21 billion.

In Q1 2019, the growth of Retirement Savings Accounts (RSAs) holders under the Contributory Pension Scheme led to a N29 billion increase in pension assets

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According to the monthly report on summary of pension fund assets and Retirement Saving Account (RSA) registration published on its website pension fund assets rose from N9.12 trillion in the month of April to N9.33 trillion in June 2019, indicating a N21 billion inflow.

 A breakdown  showed a rise 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.

Acting Director-General of Pencom, Mrs. Aisha Dahir-Umar, had attributed the accumulation successes achieved since the inception of implementation of the CPS to the commission’s esteemed contributors.

 “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 retiree.

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

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