November 28, 2022

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Pension belongings swell by N843bn in 6 months


Pension fund belongings rose by N842.7 billion within the first half of 2022, hitting a file of N14.27 trillion from N13.42 trillion recorded initially of the yr. That is based on the Nationwide Pension Fee (PenCom).

In response to PenCom a complete of 27,157 RSA contributors switched their pension managers between January and June 2022, bringing the whole variety of RSA transfers processed by the Fee to 78,549 for the reason that opening of the switch window. It mentioned that for the reason that launch of the PFA switch window, which supplies a chance for Retirement Financial savings Account (RSA) holders to change from one pension fund administrator to a different, Q1 2022 recorded the best quarterly actions, rising by 20.1% quarter-on-quarter, a sign of how aggressive the business has change into.

In the meantime, RSA registrations elevated by 2.8% to face at 9.79 million from 9.53 million recorded as of December 2021, which represents a rise of 266,830 new RSA registrations in six months. An in depth take a look at the information confirmed that complete pension funds elevated by 6.28 per cent from N13.42 trillion as of December 2021 to N14.27 trillion as of June 2022.

Investments in company debt securities rose considerably by 26.11% to N1.19 trillion within the assessment interval (year-to-date) whereas PFAs elevated their investments in actual property by 50.66% to N236.2 billion as of June 2022 from N156.8 billion recorded as of the start of the yr. The report mentioned that investments in personal fairness funds dipped barely by 0.24 per cent to face at N38.87 billion from N38.96 billion. Additionally PFA allocations to FGN securities stood at N9.01 trillion, a 2.67 per cent improve from N8.77 trillion in December 2021and investments in FGN securities accounted for about 63% of the whole pension fund.

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The RSA fund II accounted for many of the fund contribution with N6.24 trillion, representing 43.7% of the whole pension funds, adopted by RSA Fund III with N3.86 trillion, which represents 27% of the whole belongings and present schemes accounted for 10.1 per cent of the whole funds, elevated by N85.78 billion to face at N1.44 trillion, whereas the CPFAs accounted for 10.7% of the whole funds, standing at N1.52 trillion as of the assessment interval. Pension Fund Directors elevated their publicity within the Nigerian inventory market within the first half of the yr, with an extra N53.85 billion funding within the native bourse, bringing the whole investments to N969.16 billion.

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