Status of Contributory Pension Assets as at end of October 2020 – PensionNigeria

Status of Contributory Pension Assets as at end of October 2020

Contributory Pension Assets increased by approximately N486 Billion in October 2020 compared to an increase of N220 Billion in September 2020.

The total assets under the Contributory Pension Scheme increased to approximately N12.05 Trillion as at the end of October 2020 compared to the N11.57 Trillion as at the end of September 2020.

The Top 7 places pension funds were invested as at October 2020 are;

FGN Securities N7.85 Trillion (65.09%)
Local Money Market Securities N1.85 Trillion (15.33%)
Corporate Debt Securities N749b (6.21%)
Domestic Ordinary Shares N700b (5.81%)
Cash & Other Assets N275b (2.28%)
Real Estate Properties N239b (1.99%)
State Govt. Securities N154b (1.28%)

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Below is the full report on the Status of Contributory Pension Assets as at end of October 2020.

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

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.

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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.

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