CONTRIBUTORS under the Contributory Pension Scheme (CPS) have increased by 21,450 in one month, The Nation has learnt.
The scheme recorded cumulative Retirement Savings Account (RSA) registrations of 9,427,003 contributors in August as against 9,405,553 in the previous month.
This was shown in the National Pension Commission (PenCom) Unaudited Report on Pension Funds Industry Portfolio for the period ended August 2021, obtained by The Nation.
The commission attributed the growth in RSA membership to the increased compliance by the public and private sectors.
The pension fund’s net asset value as at the period under review, however, stood at over N12.90 trillion.
Meanwhile, Pension Fund Administrators (PFAs) invested N8.29 trillion in the Federal Government’s Securities. A breakdown of the investment shows that FGN Bonds got the bigger chunk of N7.78 trillion, followed by the local money market securities, which got N2.12 trillion; and bank placements, N1.99 trillion.
Also, corporate debt securities got N960.58 billion; treasury bills got N410.81 billion; Agency bonds N14.51 billion; Sukuk N73.80 billion and green bonds N11.49 billion.
Domestic ordinary shares got N846.54 billion; foreign ordinary shares N107.89 billion; state government Securities N88.06 billion; foreign money market, N41 million; infrastructure funds N73 billion; commercial papers, N125 billion and cash and other assets N130.69 billion.