From Joseph Inokotong, Abuja
Pension fund assets under the watch of the National Pension Commission (PenCom) have
continued its growth trajectory monthly, soaring to N12.78 trillion as of July 31, 2021.
In its recent data, PenCom stated that the pension fund asset stood at N12.31 trillion as of December 31, 2020, and soared to N12.78 trillion by July 31, 2021, indicating a difference of N47 billion.
In the same vein, within the period under review it was gathered that 19,000 retirement savings account holders joined the contributory pension scheme.
On investment side, N8.13 trillion was invested in federal government securities as of December 2020, while N8.20 trillion was invested by July 2021.
PenCom also pointed out that as of December 2020, N136.59 billion was invested in state government securities, N1.69 trillion in the local money market, while N89.68 billion was invested in state government securities in July 2021 and N2.11 trillion invested in the local money market.
Director-General (DG) of the National Pension Commission (PenCom), Mrs. Aisha Dahir-Umar reassured stakeholders that the implementation of the Contributory Pension Scheme (CPS) remains on course, as the number of registered contributors under the CPS has continued to grow while pension fund assets have accumulated to N12.78 trillion as of July 31, 2021.
The PenCom DG noted that the feat achieved in maintaining consistent growth trajectory has justified the Commission’s overriding investment philosophy of ensuring the safety of pension fund assets.