25bn under the Contributory Pension Scheme in infrastructure as of the end of May, latest statistics from the National Pension Commission has revealed.
The commission had stated in its last amended investment regulation the requirements to invest the funds in line with the provisions of Pension Reform Act, 2014. It stated that the PFCs, in discharging their contractual functions to PFAs, must not contract out the custody of pension fund assets to third parties except for allowable investments made outside Nigeria.
PenCom stated that the PFAs must maintain a multi-fund structure as provided in the regulation to govern the investment of pension fund assets of RSA Funds.
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