Contributory pensions: Over 91,000 Retirement Savings Accounts registered in Q1 –PenCom

By Rukayat Adeyemi

A total of 91,499 Retirement Savings Account (RSA) holders were registered by the Pension Fund Administrators (PFAs), under the Contributory Pension Scheme (CPS), between January and April 2021,according to the National Pension Commission (PenCom).

Data obtained from PenCom’s website on Saturday, revealed that the PFAs registered 9,236,841 RSA holders in January, while the number surged to 9,328,340 in April.

The commission stated that pension fund assets which rebounded in March 2021, having dropped for two months, have continued on a growth trajectory to gain over N50 billion between March and April.

PenCom noted that of the N12.39 trillion assets, N8.32 trillion had been invested in federal government  securities.

Giving a breakdown, PenCom said Federal Government bonds gulped N7.45 trillion investment; treasury bills, N690.43 billion; agency bond, N13.01 billion; Sukuk bonds, N79.31 billion and green bonds N79.81 billion.

According to the commission, the state governments’ securities also gulped N117.21 billion investment. (NAN)