Total pension assets under the Contributory Pension Scheme rose by N2.1tn to N12.3tn in 2020 from N10.2tn as of the end 2019.
This is according to the latest data from the National Pension Commission.
According to PenCom, about N8.13tn of the funds was invested in the Federal Government of Nigeria Bonds, while N858.46bn and N92.91bn were invested in domestic and foreign ordinary shares respectively.
The report also shows that N1.68tn and N161.39bn were also invested in local money market securities and mutual funds respectively.
As part of efforts to boost services in the industry, the commission said it has opened the transfer window to enable workers in the Contributory Pension Scheme to change their pension companies, as well as a robust electronic platform that would enable seamless transfers to the Retirement Savings Account.
