BY NKECHI NAECHE-ESEZOBOR—The total pension contributions remitted to the RSAs in the first quarter of 2021 stood at N203.10 billion, BusinessToday has learnt.
Data obtained from the National Pension Commission (PenCom) shows out of the total number, the public sector accounted for N115.83 billion or 57.03 % while the private sector contributed N87.27 billion or 42.97%.
According to the commission the cumulative pension contributions received from both the public and private sectors from inception to the end of the first quarter of 2021, therefore, amounted to N6.91 trillion, up from the N6.70 trillion as at the end of the Q4 2020.
The commission also disclosed that the aggregate total pension contributions of the public sector increased by 2.60% from N3.43 trillion as at the end of the Q4 2020 to N3.55 trillion as at the end of the reporting period.
Similarly, the aggregate pension contributions of the private sector also increased from N3.27 trillion recorded in Q4, 2020 to N3.36 trillion as at the end of the reporting period.
On Pension Fund Portfolio, it said total value of Pension fund assets was N12.34 trillion as at 31 March 2021 comprising of N8.62 trillion for RSA ‘Active’ Funds (i.e. RSA Funds I, II III and V); N976.90 billion for RSA Retiree (Fund IV) N1.46 trillion for CPFAs; and N1.28 trillion for Approved Existing Schemes.
While noting that Pension fund were mainly invested in Federal Government Nigeria (FGN) Securities, which accounted for 68.93% of total assets. The composition of investments in FGN Securities were distributed as follows: FGN Bonds: 62.19%; Treasury Bills: 5.85%; and Agency Bonds, Sukuk and Green Bonds accounting for about 0.90%. Table 3.6 below shows the summary of the Pension Industry Portfolio across fund types for the quarter ended 31 March 2021.
The post CPS: N203.10 billion Remitted As Pension Contributions To RSAs Holders In Q1 2021-Says PenCom appeared first on Business Today NG.