Contribution Pension Scheme Fell By $17m In 2021
By Nick Okoro
The Contributory Pension Scheme (CPS) that had maintained its constant rise as the fastest growing fund in the economy has fallen by $17m in January 2021.
The National Pension Commission in its report titled ‘Unaudited report on pension funds industry portfolio” for the period ended 31 January 2021’ made available to Irohinoodua this week revealed shows the figures on Approved Existing Schemes, Closed Pension Fund Administrators and RSA funds.
The pension assets which ended December 2020 at N12.306tn fell to N12.299tn as of the end of January.
It was recorded that N8.1tn was invested in FGN securities including FGN bonds, treasury bills, agency bonds SUKUK and green bonds in January.
According to the figures, the funds were also invested in some local money market securities which comprises of bank placements, commercial papers and foreignmoney market securities.
Other investment portfolios were domestic and foreign ordinary shares; corporate debt securities comprising of corporate bonds, corporate infrastructure bonds, corporate green bonds and supra-national bonds.
CPS assets rose by N2.1tn to N12.3tn as of 2020 from N10.2tn as of the end 2019 despite the negative impact of COVID-19 pandemic on the economy.
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