Contributory Pensions Increased to N590bn in Q1.

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According to National Pension Commission data, the assets under the Contributory Pension Scheme increased by N590 billion in the first quarter of 2023. According to the numbers, assets increased from N14.99 trillion at the end of December 2022 to N15. 58 trillion at the end of March 2023.

FGN securities accounted for 65.44 percent of the money totaling N10.19 trillion. The remaining assets were allocated to corporate debt securities, money market instruments, and mutual funds.

PenCom also revealed that the  Retirement Savings Accounts membership stood at 9,945,537 in the period under review.


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