Nigeria’s pension assets drop 0.16 to N12.3 trln in Feb –PENCOM
Nigeria’s total Pension assets fell by 0.16 percent to N12.30 trillion as of January 31, 2021 from N12.31 trillion it was as of December 31, 2020, according to the latest report from the National Pension Commission (PenCom).
The portion of the assets invested in government debt instruments in January stood at N8.107 trillion against N8.13 trillion invested in the previous month.
A total of N836 billion in pension assets was invested in corporate debt assets in the same period, securities in the review period stood at N836 billion, while a total of N1.647 trillion was invested in money market securities in January compared with N1.69 trillion in the previous month.
The Pension Fund Administrators, which manage the pension assets invested N161.39 billion in mutual in the first month of the year, up from N161.392 billion invested in the previous month.
The report showed that total of Retired Savings Account (RSA) registered as of January 31 was 9,236,841, slightly higher than the 9,215,788 it was the previous month.
The decline in pension assets in the first month of the year was attributed to low yields on fixed incomes in the period and also rises in the unemployment rate in the country.