✕ CLOSE Online Special City News Entrepreneurship Environment Factcheck Everything Woman Home Front Islamic Forum Life Xtra Property Travel & Leisure Viewpoint Vox Pop Women In Business Art and Ideas Bookshelf Labour Law Letters
Click Here To Listen To Trust Radio Live

Pension assets rise by N92bn to N12.34tr — PenCom

Pension assets, under the Contributory Pension Scheme (CPS) have risen by N92 billion to hit N12.340 trillion in March 2021 from the N12.248tr recorded in February 2021.

The unaudited report on Pension Funds Industry Portfolio released by the National Pension Commission (PenCom) also showed that total Retirement Savings Account (RSA) registration jumped by 34,911 accounts to stand at 9,300,058 as at the end of March 2021 from the 9,265,141 recorded as at the end of February 2021.

Daily Trust recalls that pension assets dipped by N51.30bn to stand at N12.25tr in February 2021 from the N12.299tr recorded in January 2021.

SPONSOR AD

PenCom explained that the decline of recorded in February was “mainly attributed to the depreciation in the prices of Fixed Income Securities (FISs) in the trading portfolios of the Approved Existing Schemes (AES), RSA Funds II & IV and Closed Pension Fund Administrators (CPFA), thereby creating unrealized losses on Marked to Market FISs.”

The apex regulatory agency for pension matters in Nigeria also explained further, “The values of the bonds in the trading portfolios fluctuate based on supply and demand of the underlying securities as well as the outlook of the financial market.”

However, the N92bn gained in March, 2021 has returned pension assets on the path of renewed growth.

Sponsored

Discover the latest trends on Temu! Shop mobile phones, fashion, beauty, home essentials & more. Start exploring now!


Click here to learn how it works.

Sponsored

Unlock AI's potential! Get top prompts for content, blogs, social media, research, draft proposals and more. Boost creativity start using AI tools today!


Click here to learn how it works.

Sponsored

Start Affiliate Marketing Today! Learn step-by-step how to set up a blog, find programs, create links, and earn money—beginner-friendly guide inside!


Click here to learn how it works.

Sponsored

Join our FREE WEBINAR! Discover the 3-step formula to turn WhatsApp into a cash-generating machine. Sign up now and start earning!"


Click here to learn how it works.

Sponsored

Master Facebook Ads! Learn to set up Business Manager, run campaigns, optimize budgets, and drive sales. Start your journey to ad success today!"


Click here to learn how it works.

Sponsored

Unlock your confidence and attract the love you deserve! Learn how to become irresistible to women—start your transformation today!"


Click here to learn how it works.

Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You.