Pension News

Status of Contributory Pension Assets as at 31 December 2023

Contributory Pension Assets increased by approximately N428.13 billion in December 2023 compared to an increase of N269.21 billion in November 2023.

The total assets under the Contributory Pension Scheme increased to approximately N18.36 trillion as at the end of December 2023 compared to the N17.93 trillion as at the end of November 2023.

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The Top 7 places where pension funds were invested as at December 2023, with percentage invested, are;

  • FGN Securities N11.92 Trillion (64.94%)
  • Corporate Debt Securities N1.91 Trillion (10.38%)
  • Money Market Instruments N1.67 Trillion (9.10%)
  • Domestic Ordinary Shares N1.57 Trillion (8.56%)
  • State Govt Securities N271.36 Billion (1.48%)
  • Real Estate N263.44 Billion (1.44%)
  • Cash & Other Assets N220.14 Billion (1.20%)

Below is the full report on the Status of Contributory Pension Assets as at end of December 2023.

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Please note this report is from the National Pension Commission (PenCom) and the figures are based on unaudited valuation reports.

Definition of Terms:

EXISTING SCHEMES: Approved Existing Schemes are Pension schemes existing prior to the introduction of the Contributory Pension Scheme (CPS) in June, 2004 and were approved to continue as AES. Membership of this fund is restricted to employees of that specific organization.

CPFAs: These are Pension schemes in the private sector existing prior to the introduction of CPS and were licensed to operate as Closed Pension Fund Administrators and membership of this fund is restricted to employees of that specific organization.

RSA FUND I: Retirement Savings Account Fund I (An Active Contributor who is below 50 yrs of age and chooses for his contribution to be invested in this fund).

RSA FUND II: Retirement Savings Account Fund II (default fund for all Active Contributors who are below 50 yrs of age).

RSA FUND III: Retirement Savings Account Fund III (default fund for all Active Contributors who are 50 yrs and above).

RSA FUND IV: Retirement Savings Account Fund IV (Fund for Retirees only).

RSA FUND V: Micro Pension Fund is for the informal sector and employees of organizations with less than 3 employees.

RSA FUND VI: Non Interest Fund

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