The National Pension Commission reports that the total assets under the Contributory Pension Scheme increased to N23.33 trillion as of March 31.

Saleem Abdulrahman, director of surveillance in PenCom, disclosed this on Thursday in Lagos.

Mr Abdulrahman said that the figure represented an increase of N820 billion when compared with the N22.51 trillion recorded as of December 31, 2024.

The PenCom boss attributed the growth in pension assets to additional contributions from Retirement Savings Account holders, as well as investment income, including gains from the appreciation of equity prices and interest income on fixed-income securities.

Breaking down the pension assets, Mr Abdulrahman said the Retirement Savings Account Funds I–VI accounted for N17.90 trillion or 76.73 per cent of the total pension assets.

Mr Abdulrahman said existing schemes accounted for N2.77 trillion or 11.87 per cent, while closed pension funds accounted for N2.66 trillion or 11.40 per cent.

“The pension fund assets were mainly invested in federal government securities, which accounted for 62.09 per cent of the total pension assets as of March 31. This is followed by domestic ordinary shares with 11.02 per cent and money market instruments, which accounted for 8.91 per cent,” stated Mr Abdulrahman.

The PenCom chief added, “The industry portfolio reported an annualised year-to-date performance of 19.29 per cent as of 31 March 2025. The commission, in collaboration with Financial Sector Deepening Africa, is organising a workshop on investment in alternative assets for chairpersons of the Board Investment Strategy and Risk Management Committees of PFAs.

“The workshop is part of the strategic initiative of the commission to promote a diversified and safer pension fund investment portfolio in order to enhance the performance of the pension portfolios.”

(NAN)