Mrs. Aisha Dahir-Umar, AG D-G, Pencom

Adebayo Obajemu

Recent report released by the National Pension Commission (Pencom) showed that the total value of pension fund assets grew to N11.56 trillion at the end of September, 2020. This represent an increase of N21 billion from N11.35 trillion reported at the end of August 2020.

The Acting Director-General, National Pension Commission (PenCom), Mrs. Aisha Dahir-Umar outlined that pension funds were mainly invested in Federal Government Securities, with an allocation of about 65 per cent of the total pension assets; FGN Bonds got 57 per cent, Treasury Bills, seven per cent, Sukuk Bonds, one per cent while Agency Bonds and Green Bonds got less than one per cent.

She said the value of investments in domestic quoted ordinary shares was N585.77 billion representing five per cent of Total Assets under Management (AuM) as at September 30, 2020, indicating an increase of N61.00 billion or 11.62 per cent compared to the value of N524.77 billion as at June 30, 2020.

The increase in the value of investments in domestic quoted equities was primarily due to the appreciation of some stocks during the reporting period, on the Nigerian Stock Exchange.

According to her, the total value of pension fund assets of N11.56 trillion comprise of N8 trillion of the Retirement Savings Account (RSA) ‘Active’ Funds like RSA Funds I, II, III and V; N934.19 billion of the RSA Retiree Fund; N1.44 trillion of the CPFAs Fund; and N1.19 trillion for the Approved Existing Schemes (AES) funds.