The National Pension Commission (PenCom) has revealed that there is a 1.94 percent growth in the Contributory Pension Scheme despite rising levels of unemployment.
The commission stated that the scheme saw growth from N12.05 trillion recorded in October 2020 to N12.3 trillion.
In the report released by the commission, between the months of September and November there was a 5.9 percent rise, reporting the sum of N11.56 trillion in September 2020.
Most of the funds received by Pension Fund Administrations (PFAs) have flowed in from government securities, with a 66.22 percent investment of pension assets in FGN securities making up N8.14 trillion.
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Government securities that saw the most investments include Treasury Bills, with N642.02 billion invested; Green bonds got N11.8 billion; FGN bonds received N7.4 trillion; Sukuk got N100.1 billion; while Agency bonds received N6.02 billion.
