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Operators give investment conditions as pension funds hit N11.57tn

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The Pension Funds Operators Association of Nigeria has said Pension Fund Custodians and Pension Fund Administrators will obey the guidelines given to them by the National Pension Commission before rel

easing the growing funds in their custody for investment.

Latest figures obtained from PenCom on Tuesday revealed that the total funds under the Contributory Pension Scheme had risen to N11.57tn as of the end of September, of which N7.5tn had been invested in Federal Government’ securities. He said, “We felt the need to clarify a number of points; we would like to state that what is being referred to is a proposed infrastructure fund to be professionally managed by the Nigeria Sovereign Investment Authority.

“The discussions have centered around coming up with a structure that has a legal and commercial framework in place for this proposed infrastructure fund.“When and if the fund gets finalised, pension funds can decide if they will invest in the fund or not based on their individual risk appetite.”

Source: News Formal (newsformal.com)

 

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