At the end of October 2022, Nigeria’s total pension fund assets reached a record high of N14.59 trillion, up 1.14% (or N164.4 billion) from the N14.42 trillion totaled the previous month.
In a similar vein, the number of Retirement Savings Account (RSA) registrations increased significantly in the review month from the 9.79 million registrations recorded at the end of the preceding month to 9.85 million.
Additional highlights include the fact that PFA investments in corporate debt securities increased by 2.64% from one month to the next, from N1.49 trillion to N1.53 trillion.
However, despite the CBN raising the monetary policy rate to 16.5% at the most recent MPC meeting, investments in federal government debt securities are still rising. Specifically, total allocation in FGN securities by the pension industry stood at N9.23 trillion as of the review month, accounting for 63.2% of the total funds.