PENSION ASSETS HAS GROWN TO N6.7 TRILLION

 

 

 

The National Pension Commission (PenCom) says that pension assets under the Contributory Pension Scheme (CPS) has grown to N6.7 trillion as at the end of May 2017.

PenCom recently revealed in a report that 73.14 per cent of the total funds had been invested in Federal Government securities.

The regulator said that the aggregate Pension assets under the CPS grew from N4.61 billion as at the end of December 2014 to N5.3 trillion in 2015.

Earlier this year, the commission renewed the regulations of investment of Pension funds. In the renewed regulations, PenCom stated that Pension Fund Administrators (PFAs) must offer multi-fund structure for the Retirement Savings Account (RSA) with a transition period of six months. Effective from the commencement date of the multi-fund structure for all PFAs to restructure their respective portfolios.

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