Pension share to GDP rises to 6% in 2016 – NBS

UG Pension gets ISO certification for quality customer service
UG Pension gets ISO certification for quality customer service

By Kehinde Ogunyale

According to a data released by National Bureau of Statistics, the Nigerian Pension Fund Asset stood at 6% as against 5.57% in 2015.

The data reflected a total of N6,164.76bn generated as against N5,302.82bn in 2015.

According to the NBS,”98.56% of the funds were invested in domestic market while the remaining 1.44% were invested in foreign market.

 

“FGN debt securities has the highest weight percentage of 71.28% of the total pension fund assets and closely followed by ordinary shares with 9.48% weight and money market securities with 6.51% weight while infrastructure funds has the least with 0.03% weight.

“Participants within the age distribution below 40years have the highest percentage composition by sector and gender, closely followed by participants within the age brackets of 40 participants above 60years ha49years and 5059years respectively while s the least percentage composition by sector and gender.

The report showed that N4,610.97bn in 2014; N4,058.09bn in 2013 and N3.151.61bn in 2012.

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