Pension fund assets record N21bn growth in Q2 2019

Joseph Inokotong, Abuja

Contributors to the national pension fund injected about N21 billion into the Fund’s assets in the second quarter of 2019.

This was contained in the National Pension Commission (PenCom) latest monthly report published on its website  at the weekend.

The report shows a summary of Pension Fund Assets (PFA) and Retirement Saving Account (RSA) registration figures for the period under review.

According to PenCom, pension fund assets which stood at N9.12 trillion in April, grew to N9.33 trillion in June 2019, indicating an inflow of N21 billion.

The pension industry regulator also stated that the RSA fund rose by about N18 billion from N6.94 trillion in April to N7.12 tillion in June. It further said that investment in Federal Government securities declined by about N6 billion, from N6.55 trillion in April to N6.49 trillion in June while RSA Fund 11, which has continued to attract more investments moved up from N4.02 trillion to N4.10 trillion, indicating an increase of N8 billion.

The Acting Director-General, PenCom, Mrs. Aisha Dahir-Umar, had attributed the accumulation of over N9 trillion and other successes achieved since inception of implementation of the Contributory Pension Acheme (CPS) to the enthusiasm of its esteemed contributors.

She urged contributors to continue to play their roles positively towards the success of the pension reform programme.

Mrs. Dahir-Umar said The achievements recorded by the Commission in the last 15 years would not have been possible without the support and understanding of all stakeholders, especially the esteemed contributors who are about to retiree.

“I therefore urge you to contribute positively towards the success of the Pension Reform Programme”.