The cynosure of long term development, pension assets, got off the starting block in 1 January 2020 with N9.81 tr and rose to N12.29 tr in the closing second of December 31, 2020, pooling additional assets of N2.48 tn.
The National Pension Commission (PenCom) released data not only showed that contributory pension scheme assets increased by N2.48 tr it also captured the total retirement savings account RSA holders standing at 9.22 million at the end of 2020.
In line with pre determined order of investment the PFAs as at the end of December, had invested N8.13 tr in federal government’s securities. A breakdown of the fund showed that out of the N8.13 tr invested in FGN Securities, FGN Bonds got N6.83 tr; Treasury Bills N628.22 bn; Agency Bonds N9.49 bn; Sukuk N646.93 bn and Green Bonds N13.05 bn.
The rest of the investment pie showed that domestic ordinary shares got N858.46 bn; foreign ordinary shares N92.92 bn; state government securities N136.59 bn; corporate debt securities N836.34 bn; local money market securities N1.69 tr; foreign money market, N18.69 bn; infrastructure funds N66.43 bn; bank placements, N1.53 tr; commercial papers, N156.69 bn and cash and other assets N122.79 bn.