As of the end of July 2023, the Contributory Pension Scheme has a value of N17.7 trillion, according to the National Pension Commission (PenCom).

PenCom Estimates The Contributory Pension Program Costing N17 Trillion

The pension asset climbed by roughly 1.8% from the N16.76 trillion the fund was at the end of June, according to the PenCom.

The total pension fund’s net asset value increased to N17 trillion in June from N16.7 trillion in May, per its monthly report for July 2023.

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According to the commission, investments in common shares of local businesses increased to N1.338 trillion from N1.268 trillion in June, with pension funds allocating N1.8 trillion to corporate debt securities and N1.58 trillion to money market instruments.

Fund II, the default RSA Fund under the Multi-Fund Structure, maintained the largest share of the Active RSA Funds allocation with N7.3 trillion or 43% of the total fund NAV. Portfolio allocation to the Federal Government of Nigeria Securities was N10.8 trillion in June or 64.6 percent of total Net Asset Values (NAVs).

This demonstrates that investments in FGN securities continue to account for the majority of portfolio allocation, accounting for almost N11 trillion, or 64.7% of total net asset value.

Additionally, from 10, 009,049 in June 2023 to 10, 025,314 in July 2023, more people held Retirement Savings Accounts.