Pension funds witnesses N21bn increase in Q2 2019

The National Pension Commission (PenCom) says N21 billion was injected into the pension fund assets by pension contributors in the second quarter of 2019.

This was revealed by the commissiin in its monthly report on summary of pension fund assets and Retirement Saving Account (RSA) registration. 

A breakdown showed a rise in  pension fund assetsat N9.12 trillion in the month of April to N9.33 trillion in June 2019, indicating a N21 billion inflow.

The industry regulator further revealed an increase of N18 billion in total RSA fund as it moved from N6.94 in April to N7.12 in June, whilst investment in federal government securities fell by N6 billion, falling from N6.55 trillion in April to N6.49 in June and RSA Fund 11, which has continued to attract more invested moved from N4.02 trillion to N4.10 trillion, increasing by N8 billion.

PenCom’s Acting Director-General, Mrs. Aisha Dahir-Umar, had attributed the accumulation of over N9 trillion and other successes achieved since inception of implementation of the CPS to esteemed contributors.

“The achievements recorded by the Commission in the last fifteen years would not have been possible without the support and understanding of all stakeholders, especially you, our esteemed contributors who are about to retiree. I therefore urge you to contribute positively towards the success of the Pension Reform Programme,” she said.

She urged contributors to continue to contribute positively towards the success of the pension reform programme.

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