71.28% of total pension fund assets in FG debt securities – NBS
The Nigerian pension fund administration data has shown that 71.28 per cent of the total pension fund assets in the country as at the end of 2016 was in Federal Government debt securities.
The data released yesterday by the National Bureau of Statistics (NBS) revealed that 9.48 per cent of the nation’s total pension fund assets were invested in ordinary shares while 6.51 per cent were in money market securities.
The data showed that despite the clamour for the use of pension funds for infrastructure development in the country, only 0.03 per cent of the total pension fund assets are invested in infrastructure funds.
The report disclosed that the pension fund asset under management as at the end of December, 2016 stood at N6.16 trillion as against N5.30 trillion in 2015.
The total asset as at the period under review represents 6 per cent of the Gross Domestic Product (GDP) as against 5.57 per cent in 2015.
The report showed that 98.56 per cent of the funds were invested in domestic market while the remaining 1.44 per cent were invested in foreign market.
Analysis of the report showed that participants within the age distribution below 40 years have the highest percentage composition by sector and gender, closely followed by participants within the age brackets of 40 to 49 years and 50 to 59 years respectively.
Meanwhile, participants above 60 years have the least percentage composition by sector and gender.