Pension fund assets hit N7.5trn in 2017 — NBS

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•53.8% invested in FGN Bonds Nigeria

Bureau of Statistics (NBS) yesterday said that the nation’s pension fund assets grew by N351 billion to N7.5 trillion in the fourth quarter of 2017 (Q4 2017) The Bureau disclosed this in its Pension Asset and Membership Data report for the fourth quarter of 2017.

The report however revealed that that N4.04 trillion representing 53.81 percent of the pension funds assets were invested in the Federal Government of Nigeria (FGN) Bonds, while 15.38 percent amounting to N1.18 trillion went into Treasury Bills (TBs).

The statistics further showed that N672.23 billion or 8.94 percent was invested in domestic ordinary shares, N626.3 billion or 8.33 percent in banks, while N262.49 billion or 3.48 percent was invested in corporate bonds.

“FGN Bonds has the highest weight percentage of 53.81 percent of the total pension fund assets and closely followed by treasury bills with 15.68 percent weight and domestic ordinary Shares with 8.94 percent weight while agency bonds have the least with 0.08 percent weight,” the report stated.

NBS further disclosed that the Pension Asset and RSA Membership Data for the fourth quarter reflected that 7.82 million workers are registered under the pension scheme compared to 7.71 million registered workers in the third quarter of 2017.

The data revealed that of the more than 7.8 million members registered under the pension scheme in Q4 2017, 3.4 million members were from the public sector while 4.4 million members were from the private sector.

In the public sector, 1.9 million were from the federal government while 1.5 million members were from state government.

“Participants within the age distribution 30-39 years have the highest percentage composition closely followed by participants within the age bracket of 40-49 years and 50-59 years while participants above 60 years have the least percentage composition”, the Bureau stated.

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