Operators put 122 billion Naira in Pension Funds into Infrastructure.

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As of the end of February 2023, data collected from the National Pension Commission showed that Pension Funds Operators had invested N121.68bn of the Contributory Pension Scheme in infrastructure.

Approved Existing Schemes, Closed Pension Fund Administrators, and RSA funds (including unremitted contributions @CBN & legacy funds)’ is the title of PenCom’s unaudited report on the pension funds industry portfolio for the period ending February 28, 2023. This came from a fund with a total of N15.45 trillion in managed pension assets.

There were 9,919,281 total Retirement Savings Accounts under the CPS as of February 28, 2023. The infrastructure funds increased from N74.54 in February 2022 and N67.1 billion in 2021. The commission had stressed the requirements for investing the money in accordance with the new investment rule in its  provisions of Pension Reform Act, 2014. It said the purpose of the regulation was to provide uniform rules and standards for the investment of pension fund assets.

It said the PFCs, in discharging their contractual functions to PFAs, must not contract out the custody of pension fund assets to third parties except for allowable investments made outside Nigeria.


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