Total assets under the Contributory Pension Scheme reached N18.36tn by the end of 2023. Data from the National Pension Commission PenCom’s ‘Unaudited report on pension funds industry portfolio for the period ended December 2023; Approved Existing Schemes, Closed Pension Fund Administrators and RSA funds’ showed that the country’s pension funds appreciated by 22.43 percent in 2023.
The funds grew by 2.39 percent to N18.36tn in December from N17.93tn recorded in November 2023. Net asset rose to N18.36tn during the period from N14.99tn in 2022.
The report also showed that N11.92tn of the assets was invested in Federal Government securities representing 64.9 percent of the total assets, and a 24 percent year-on-year growth in investment in FGN securities.
Corporate debt securities followed at 10.4 percent, with domestic ordinary shares making up 8.6 percent of the total Assets Under Management.
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