In its monthly report released on its website, the National Pension Commission (PenCom) has revealed that the total pension asset under the Contributory Pension Scheme (CPS) as at the end of April 2021 was worth N12.40 trillion up from N12.34 trillion in March representing a marginal growth of 0.47% (MoM).
This report also revealed that the total growth of pension assets under the CPS has grown by 0.74% (YTD) considering the asset balance of N12.31 trillion at the end of December 2020.
The growth trajectory is expected to continue as the market recovers from the shocks of the global pandemic which affected investment returns worldwide.
In the latest report also, it revealed that the total number of contributors increased to 9,328,340 from 9,300,058 in March 2021 representing an addition of 28,282 net contributors in April 2021.
The total pension assets consist of pension fund asset balances of all Approved Existing pension Schemes (AES), Closed Pension Funds and the RSA Funds.
The various assets where the pension funds are invested include Government securities, Corporate Debt securities, Money Market instruments (local and foreign), Mutual Funds, Infrastructure Funds, Real Estate, Private Equity Funds, Cash and other assets.