Home Business Pension funds Asset hits N9.03trn in Q1- NBS

Pension funds Asset hits N9.03trn in Q1- NBS

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The National Bureau of Statistics (NBS) has said Pension Assets under Management as at first quarter of (Q1) 2019 stood at N9.03 trillion as against N8.63 trillion reported in fourth quarter (Q4) of 2018.

The bureau in its Pension Asset and Membership Data on Tuesday said the Pension Asset and RSA Membership Data Q1 2019 reflected that 8,569,037 workers are registered under the pension scheme compared to 8,410,184 registered workers in Q4 2018

According to the NBS report, “FGN Bonds has the highest weight percentage of 49.37per cent of the total pension fund assets and closely followed by treasury bills with 21.44per cent weight and local money market securities with 9.68% weight while foreign money market securities has the least with 0.25per cent weight.

“Participants within the age distribution 30-39years have the highest percentage composition with 35.77per cent closely followed by participants within the age bracket of 40-49years and 50-59years with 28.12per cent and 18.02per cent respectively while participants above 65 years have the least percentage composition with 2.78per cent.”

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