Nigeria's Pension Fund Assets Increases To N8.14 Trillion, Was N7.52 Trillion In 2017

 A pension fund is an investment product into which scheme members pay contributions in order to build up a lump sum to provide an income in retirement. The Government also pays back the income tax deducted from these contributions.
In many cases, this is topped up with contributions from the scheme member’s employer.

Nigeria's National Pension Commission said that the total pension fund assets stood at N8.14trn as at May, 2018. PenCom in a statement signed by its spokesman, Mr. Peter Aghahowa, on Sunday said the assets rose from N7.52trn in December 2017, to N8.14trn in May 2018.

The commission said,”the pension assets as at December 2017 stood at N7.52trn, it moved up to N7.8 trillion as at February and soared to N7.94trn in March, then to N8.14trn in May.”
It also posited that N5.2trn has been invested in Federal Government Securities by the Pension Fund Administrators.

GUYS, THIS IS A GOOD NEWS TO PENSIONERS
WHAT DO YOU THINK?

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