Pension Fund Administrators have gradually reduced investment of pension funds in the Contributory Pension Scheme in treasury bills, findings have revealed.
Data obtained by our correspondent from the National Pension Commission revealed that the operators have increased their investments in commercial papers and bank placements.
The bulk of the funds of N5.6tn, however, remained in FGN bonds, which were investments with longer years tenor. Treasury bills, which used to yield up to 14 per cent interest in recent years, and gradually crashed to 10 per cent, now offer investors between 3.3 per cent and 4.5 per cent interest.
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