PenCom invests N10.19trn in FGN securities, as CPS assets rise to N15trn at March 2023
National Pension Commission (PenCom) says it has invested a total of N10.19 trillion of the Contributory Pension Scheme (CPS) assets in FGN securities, a figure it said represents 65.44 percent of the funds.
This is also as the commission disclosed that total CPS assets jumped from N14.99 trillion recorded in December 2022, to N15.58 trillion reached by the end of March 2023.
PenCom further disclosed that the CPS assets rose by N590bn in the first quarter of 2023.
The figure were obtained from the unaudited report on pension funds industry portfolio for the period ended 31 March 2023, comprising the Approved Existing Schemes, closed Pension Fund Administrators and RSA funds (Including unremitted contributions (CBN & legacy funds).
Aside the N10.19 trillion invested in FGN securities, PenCom also disclosed that the rest of the assets were invested in corporate debt securities, money market instruments and mutual funds.
PenCom also disclosed that the Retirement Savings Accounts (RSA) membership stood at 9,945,537 in the period under review.
