PFAs RAKE IN N630bn FROM PENSION CONTRIBUTORS IN 5 MONTHS

Pension contributors in the Country contributed over N630 billion into the various Pension Fund Administrotors (PFAs) between January and May of 2018.

Data from the National Pension Commission (PenCom) revealed that the total Pension Fund assets as at December 2017 was N7.51 trillion and Peaked at N8.14 trillion as at May 2018 showing an increase of over N63 billion.

PenCom also stated that out of the N630 billion contributed, N420 billion was invested in Fedral Government Securities. The Commission noted that as at December 2017, FGN bonds got N4.04 trillion, Treasury bills N1.18 trillion, Agency bond (NMRC & FMBN) N5.82 billion, Sukuk bonds N56.55 billion and the Green bond N7.19 billion.

As at May 2018 however, FGN bonds got N3.96 trillion, Treasury bills N1.68 trillion, Agency bond (NMRC & FMBN) got N6. 54 billion, Sukuk bonds N51.98 billion while Green bond got N8.26 billion

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