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N1.16tn Pension Fund Meant For Infrastructure Idle – Pencom - Investment - Nairaland

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N1.16tn Pension Fund Meant For Infrastructure Idle – Pencom by Adesiji77: 5:42am On May 05, 2016
The National Pension Commission on Wednesday said that out of the N1.16tn pension fund assets available for investment in infrastructure, only N1.36bn had so far been invested in infrastructure bonds.

This, according to the commission, leaves about N1.159tn idle and unable to be invested in the provision of critical infrastructural projects.

The Director-General, PenCom, Mrs. Chinelo Anohu-Amazu, gave this figure during a presentation to the House Committee on Pensions at the public hearing on the need to invest pension funds to meet Nigeria’s infrastructural challenges.

In her presentation, a copy of which was made available to our correspondent, the DG said the inability to get instruments to invest the amount had been a problem.

Anohu-Amazu said while the regulations allowed for investment of pension fund assets in infrastructure through infrastructure bonds, the commission had yet to find viable instruments through which to channel the funds.

She said, “The investment regulations allow for investment in infrastructure through infrastructure bonds and infrastructure funds. However, despite the availability of about N1.16tn for infrastructure financing, only N1.36bn had been taken as of December 31, 2015, leaving about N1.159tn untapped.

“This is largely due to the non-availability of investment instruments that qualify for pension investment as stipulated in the investment regulations issued by the commission.”

The DG stated that the country’s infrastructure deficit, which currently stands at about N23tn, was a matter of concern to the government as it would be difficult to address with budgetary allocations alone.

She explained that while the Federal Government’s budget offered limited funds for infrastructure development due to competing demands, the long-term financing market was also underdeveloped, shallow and offered limited capital for deployment to develop infrastructure.

Anohu-Amazu said, “Capital provided by pension funds, which are long-term obligations, are best suited to address the need for long-term financing instruments that have maturities commensurate with the long-term nature of infrastructure projects.

“Indeed, several countries in Europe, North and Latin America as well as Africa have successfully utilised part of the accumulated pension funds by investing in new infrastructure projects or renewing dilapidated ones.

“It is, therefore, understandable that given the infrastructure deficit in Nigeria, pension funds need to be mobilised for investment in such projects.”

On how much has been contributed into the pension funds, the Pencom DG said the value of the assets stood at about N5.3tn.

The funds, according to her, have been invested in various approved assets classes within the limits allowed by the investment regulations.

For instance, she said 66 per cent of the pension assets were invested in Federal Government securities, while investment in equities and money market securities were moderate at 11.05 per cent and 10.58 per cent, respectively.
http://www.punchng.com/n1-16tn-pension-fund-meant-infrastructure-idle-pencom/

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Re: N1.16tn Pension Fund Meant For Infrastructure Idle – Pencom by Flexherbal(m): 5:45am On May 05, 2016
We have heard you. Provided the money is available when the need arises.

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Re: N1.16tn Pension Fund Meant For Infrastructure Idle – Pencom by Taeewo(m): 5:52am On May 05, 2016
Kilode

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Re: N1.16tn Pension Fund Meant For Infrastructure Idle – Pencom by Phame: 6:15am On May 05, 2016
Story that 'gladdens' the heart.

1 Like

Re: N1.16tn Pension Fund Meant For Infrastructure Idle – Pencom by macaranta(m): 11:24am On May 05, 2016
Okay
Re: N1.16tn Pension Fund Meant For Infrastructure Idle – Pencom by tommykiwi(m): 11:24am On May 05, 2016
K
Re: N1.16tn Pension Fund Meant For Infrastructure Idle – Pencom by Ramanto(m): 11:24am On May 05, 2016
who is going to trade government securities when a large portion of the population wallows in poverty?

1 Like

Re: N1.16tn Pension Fund Meant For Infrastructure Idle – Pencom by Nobody: 11:25am On May 05, 2016
But where is Fashola sef undecided
Re: N1.16tn Pension Fund Meant For Infrastructure Idle – Pencom by gimbayaro(m): 11:25am On May 05, 2016
all na wash...una want use pension money for infrastructure. ...make una use the money generate power abeg....I no see light for 3days now... wen Buhari de go france sef?

6 Likes

Re: N1.16tn Pension Fund Meant For Infrastructure Idle – Pencom by buharisbae(f): 11:25am On May 05, 2016
PDP embarassed
Re: N1.16tn Pension Fund Meant For Infrastructure Idle – Pencom by bokohaman: 11:26am On May 05, 2016
na today
Re: N1.16tn Pension Fund Meant For Infrastructure Idle – Pencom by Nobody: 11:26am On May 05, 2016
U
Re: N1.16tn Pension Fund Meant For Infrastructure Idle – Pencom by sapientia(m): 11:27am On May 05, 2016
In the end, ordinary Nigerians wont even know what you are talking about.

Our governments most times dont communicate to us

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Re: N1.16tn Pension Fund Meant For Infrastructure Idle – Pencom by Kufie(m): 11:27am On May 05, 2016
1.6TRN idle and I'm looking for money? This life! sad sad sad

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Re: N1.16tn Pension Fund Meant For Infrastructure Idle – Pencom by harmbhrosz(m): 11:29am On May 05, 2016
Lol
Re: N1.16tn Pension Fund Meant For Infrastructure Idle – Pencom by rexzqcom(m): 11:29am On May 05, 2016
APC sleeping on duty !!!!
Re: N1.16tn Pension Fund Meant For Infrastructure Idle – Pencom by SmithHumble50: 11:29am On May 05, 2016
And someone will say 9ja is broke?

That money alone can help fasholas ministry..

Buhari is good in stockpiling..

I wonder how he expects things to work?

1 Like

Re: N1.16tn Pension Fund Meant For Infrastructure Idle – Pencom by samfibby(m): 11:31am On May 05, 2016
They are looking for ways to divertthe money intoprivate pockets.
Re: N1.16tn Pension Fund Meant For Infrastructure Idle – Pencom by Pavore9: 11:31am On May 05, 2016
N1.16tn idle in Nigeria? shocked

2 Likes

Re: N1.16tn Pension Fund Meant For Infrastructure Idle – Pencom by GambaOsaka: 11:32am On May 05, 2016
No wonder they paid Fourteenth month salary last year.

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Re: N1.16tn Pension Fund Meant For Infrastructure Idle – Pencom by Psyrus(m): 11:35am On May 05, 2016
Where's Dasuki and Co? Chai food is ready.

2 Likes

Re: N1.16tn Pension Fund Meant For Infrastructure Idle – Pencom by segunpee: 11:36am On May 05, 2016
God bless U ma. We might nt necessary over borrow to implement d budget niyen. Chukwugozie
Re: N1.16tn Pension Fund Meant For Infrastructure Idle – Pencom by OBAGADAFFI: 11:42am On May 05, 2016
They should be care with the Pension Fund spending, that money belongs to workers and not the government.

Its totally wrong to spend workers contributory pension on infrastructural projects.

1 Like

Re: N1.16tn Pension Fund Meant For Infrastructure Idle – Pencom by Nobody: 11:44am On May 05, 2016
The Federal Government should not touch my pension contribution ooooo. I don't trust them to effectively manage the money and use it for infastructural developments. I don't want stories that touched the heart when I resigned and somebody will tell me that pencom is broke......Na cutlass we go use settle am ooooo.......Nothing should happened to my sweat of 20Years

5 Likes 1 Share

Re: N1.16tn Pension Fund Meant For Infrastructure Idle – Pencom by Guyman02: 11:44am On May 05, 2016
We need to commend this DG PENCOM for her steadfastness in ensuring that Pensioners money is safe, I learnt one of the reasons PMB did not fire her along with other DGs is because she accounted for every money under her control which she was able to safe guard despite pressure from the last administration under which she served for her to release this huge funds for political campaigns and sundry issues.
We should sometimes also commend Govt employees when they do well like this woman.

6 Likes

Re: N1.16tn Pension Fund Meant For Infrastructure Idle – Pencom by mrvitalis(m): 11:47am On May 05, 2016
Ok I don hear... How can I access the money

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Re: N1.16tn Pension Fund Meant For Infrastructure Idle – Pencom by Mayflowa(m): 11:49am On May 05, 2016
This is an eye opener. I hope the funds is mobilized well for all region development. The dearth of Infrastructure is the bane of Nigeria.

But the cost of awarding projects in Nigeria is just beyond me. 1km road for 1 billion naira! We are joking with ourselves in this country

1 Like

Re: N1.16tn Pension Fund Meant For Infrastructure Idle – Pencom by Shaks4real: 11:57am On May 05, 2016
how can govt imaging investing workers future in infrastructure were the structure is unrealistic,those that mean govt no longer exist na workers they role the country,govt should use the revenue they generate and develop infrastructure,that idea na scan
Re: N1.16tn Pension Fund Meant For Infrastructure Idle – Pencom by Standing5(m): 12:02pm On May 05, 2016
That's not so much oh . . . They should build old people's home with it.
Re: N1.16tn Pension Fund Meant For Infrastructure Idle – Pencom by 989900: 12:41pm On May 05, 2016
egbonnla:
The Federal Government should not touch my pension contribution ooooo. I don't trust them to effectively manage the money and use it for infastructural developments. I don't want stories that touched the heart when I resigned and somebody will tell me that pencom is broke......Na cutlass we go use settle am ooooo.......Nothing should happened to my sweat of 20Years

cheesy

1 Like

Re: N1.16tn Pension Fund Meant For Infrastructure Idle – Pencom by Acidosis(m): 1:13pm On May 05, 2016
Guyman02:
We need to commend this DG PENCOM for her steadfastness in ensuring that Pensioners money is safe, I learnt one of the reasons PMB did not fire her along with other DGs is because she accounted for every money under her control which she was able to safe guard despite pressure from the last administration under which she served for her to release this huge funds for political campaigns and sundry issues.
We should sometimes also commend Govt employees when they do well like this woman.

Post the link to your rumour

2 Likes

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