By Favour Nnabugwu
The nation’s pension fund assets rose significantly by N183.8 trillion increase within a month, from N13.42trillion in December, 2021 to N13.61 trillion as at the end of January 2022.
The fund in January 2022 was N12.29 trn but dropped to N12.24 trn in February, following the drop in yield in the bonds market where the pension fund administrators have about 60 per cent of the pension fund invested.
In March 2021, the fund rose to N12.33 trillion, gaining N92 bn while it gained a further N58 bn in April to stay at N12.39 trillion even as it soared by N95 bn in May, 2021 to put the pension fund assets at N12.49 trn.
By June, the fund had grown to N12.65 trn, N165 bn in the process even as it recorded N123bn growth in July to stay at N12.78trn.
The pension fund assets rose to N12.90 trn in August, having gained N120 bn, while it pulled N101 bn gains in September, 2021 to stay at N13 trn.
The Director-General of PenCom, Mrs. Aisha Dahir-Umar, stated that the growth in the pension fund assets under the new pension scheme, was an indication of prudent and sincere management of the pension fund by the pension operators and the regulator.
According to her, “The maintenance of a consistent growth trajectory continues to justify the Commission’s overriding investment philosophy of ensuring the safety of pension fund assets”.