The National Pension Commission (PenCom) has disclosed that Nigeria’s contributory pension assets rose by N4.26 trillion between October 2023 and October 2024.
The data indicates a 24.14 per cent increase in the assets’ value.
PenCom in its monthly report at the end of October, revealed that the value of the pension assets stood at N21.92 trillion, compared to N17.66 trillion at the end of the same period in 2023.
The report showed that majority of pension assets are concentrated in government securities.
It also showed that in the period under review, investment of pension funds in federal government securities rose from N11.42 trillion to N13.57 trillion.
Funds invested in corporate debt securities also rose to N2.29 trillion, that of money market instruments stood at N2.20 trillion and mutual funds was N106.85 billion from N112.52 billion, reflecting a 5.04 per cent decline.
Over one year, the number of retirement savings accounts grew by 394,679 to 10,535,608.
On a month-on-month basis, the pension assets grew by N541 billion to N21. 92 trillion from N21.38 trillion in September.
