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Pension assets hit N14.9trn as govt borrows N8trn

The National Pension Commission (PenCom) has revealed that pension fund assets have increased to N14.59 trillion as of the end of October 2022.Information Guide Nigeria

RIPPLES NIGERIA reports that this is a 7.20 per cent or N909 billion increase when compared to N13.6 trillion in January 2022.

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This was disclosed by PenComĀ  in the monthly pension report that captured the assets under management by Pension Fund Administrators (PFAs).

The commission also revealed that the number of Retirement Savings Account (RSA) holders in the Contributory Pension Scheme now stand at 9,850,094.NYSC portal

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According to RIPPLES NIGERIA, it also revealed that 84,000 have enrolled into the Micro pension plan (MPP) as of the end of September.JAMB portal

FederalĀ GovernmentĀ SecuritiesĀ continueĀ toĀ holdĀ aĀ dominantĀ positionĀ inĀ theĀ assetĀ distributionĀ onĀ investments,Ā accountingĀ forĀ 63.23Ā percentĀ ofĀ theĀ totalĀ assets,Ā orĀ N9.225Ā trillion,Ā withĀ FGNĀ BondsĀ accountingĀ forĀ N8.840Ā trillion.

RIPPLES NIGERIA reports that Money market instruments followed with 14.91 per cent of the total assets under management, equal to N2.175 trillion, with fixed deposit/bank acceptance dominating with N2.036 trillion.

StateĀ governmentĀ securitiesĀ cameĀ inĀ thirdĀ withĀ 10.46%,Ā orĀ N1.527Ā trillion,Ā whileĀ domesticĀ commonĀ sharesĀ cameĀ inĀ fifthĀ withĀ N828.167Ā billion,Ā orĀ 5.68%,Ā ofĀ theĀ totalĀ assets.JAMB Result

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Idongesit Akpa-Ayang

Idongesit is a graduate of Communication Arts, University of Uyo. Currently working as a news reporter at InfoGuide Nigeria.

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