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FinanceNews

Pension assets rebound, gain N164bn in one month

The Contributory Pension Scheme’s assets returned to growth in October, gaining N164 billion after suffering a loss of about N2 billion in September.Information Guide Nigeria

This was disclosed in the National Pension Commission’s most recent monthly report, titled “Unaudited report on pension funds industry portfolio for the period ended 31 October 2022.

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The assets increased to N14.59 trillion in October from N14.424 trillion and N14.426 trillion at the end of August, according to the data.

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According to the figures, N9.23 trillion was invested in Federal Government securities, N1.53 trillion in corporate debt securities, N2.17 trillion in money market instruments, and N65.68 trillion in mutual funds.NYSC portal

The Pension Reform Act of 2014 mandates that Pension Fund Administrators handle monies held in the custody of Pension Fund Custodians.JAMB portal

Profits from the investing of pension funds are necessary to increase the balances in the workers’ Retirement Savings Accounts.JAMB Result

When investing funds in any portfolio, PFAs are expected to follow PenCom’s investment standards.

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Emediong Ekpe

Emediong Ekpe is a graduate of English. A professional Sports journalist/analyst, and a spoken word artist. He is passionate about decimating information and putting smiles on people's faces via news writing.

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