PensionTalk Analytics
The pension fund industry in Nigeria witnessed continuous growth in total assets during June 2024, as revealed in the latest monthly report released by the National Pension Commission (PenCom). The total pension fund assets surged to ₦20.48 trillion, marking an increase of ₦256.76 billion from the previous month’s value of ₦20.23 trillion.
The report, released by PenCom, detailed the composition of these assets across various investment classes.
Federal Government securities remained the largest asset class, comprising 63.27% of the total assets, valued at ₦12.96 trillion. This dominance underscores the continued preference for low-risk investments within the industry.
Domestic ordinary shares accounted for ₦1.97 trillion, representing 9.60% of the total assets, while investments in corporate debt securities stood at ₦2.21 trillion, making up 10.78% of the portfolio.
Notably, the funds allocated to foreign ordinary shares reached ₦279.74 billion, reflecting a cautious yet expanding approach towards international diversification.
The report also highlighted the contribution of the Retiree Savings Account (RSA) funds, which totaled ₦5.40 trillion, with Fund II leading the charge at ₦8.52 trillion.
This asset growth aligns with the broader economic recovery efforts, though challenges remain. With a continuous upward trend in asset accumulation, stakeholders are optimistic about the sector’s resilience and future prospects.
This development serves as a beacon of confidence for contributors, retirees, and stakeholders in the pension industry, as it reflects the sector’s commitment to safeguarding and growing the nation’s retirement savings.
Click here to download the full report.
