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N6.51trn pension fund invested in FG securities – NBS

A total of N6.51 trillion pension funds have been invested in Federal Government bonds and treasury bills as at the first quarter of 2019. Pension…

A total of N6.51 trillion pension funds have been invested in Federal Government bonds and treasury bills as at the first quarter of 2019.

Pension Assets and Membership Report released, yesterday, by the National Bureau of Statistics (NBS) showed that Nigeria’s pension assets rose to N9.03 trillion in the first quarter of 2019 from N8.63 trillion recorded in previous quarter.

The report revealed that 72.08 per cent of the N9.03 trillion pension assets as at the first quarter of 2019 are in Federal Government securities.

Daily Trust analysis of the assets showed that Federal Government bonds have the highest weight of 49.37 per cent of the total pension fund assets, closely followed by treasury bills with 21.44 per cent weight and local money market securities with 9.68 per cent weight while foreign money market securities have the least with 0.25 per cent weight.

In value terms, Pension Fund Administrators (PFAs) invested N4.46 trillion in Federal Government bonds and N1.94 trillion in Federal Government treasury bills.

Analysis showed that N590.6 billion pension fund was invested in Domestic Ordinary Shares while N62.60 billion was invested in Foreign Ordinary Shares as at the first quarter of 2019.

PFAs invested N24.96 billion in Mutual Funds such as real estate, private equity funds and infrastructure funds.

The report showed that 8.57 million workers were registered under the pension scheme compared to 8.41 million registered workers in the last quarter of 2018.

Participants within the age distribution 30 to 39 years have the highest percentage composition with 35.77 per cent closely followed by participants within the age bracket of 40 to 49 years and 50 to 59 years with 28.12 per cent and 18.02 per cent respectively while participants above 65 years have the least percentage composition with 2.78 per cent.

NBS indicated it verified and validated the data, which were supplied administratively by PenCom before publication.

 

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