Status of Contributory Pension Assets as at September 2022

Contributory Pension Assets decreased by approximately N1.5 billion in September 2022 compared to an increase of N65.91 billion in August 2022. This is the first time we are having a month on month decrease in the year 2022.

The total assets under the Contributory Pension Scheme decreased to approximately N14.42 trillion as at the end of September 2022 compared to the N14.43 trillion as at the end of August 2022.

The Top 7 places where pension funds were invested as at September 2022, with percentage invested, are;

FGN Securities N9.19 Trillion (63.73%)
Money Market Instrument N2.11 Trillion (14.59%)
Corporate Debt Securities N1.49 Trillion (10.31%)
Domestic Ordinary Shares N869 Billion (6.02%)
Real Estate Properties N229 Billion (1.59%)
State Govt. Securities N167 Billion (1.15%)
Infrastructural Funds N104 Billion (0.72%)

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Below is the full report on the Status of Contributory Pension Assets as at end of September 2022.

Please note this is the latest report 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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