Pension assets: PenOp sets stage for long term investment

Concerned more about the safety of the N4.5trillion pension fund under management, the Pension Fund Operators Association of Nigeria (PenOp) said they would engage more on long term investment order than short term.
The Chairman of the group, Mr. Misbau Yola said as climate for pension fund investment is closing in, the pension fund managers will engage more  in long term investment in equity and infrastructure that have more economic impact as opposed to the short term investment.
Yola noted that employees, employers and other stakeholders within and outside the industry now understand that their pension is safe under the supervision of the National Pension Commission and the administration of the PFA along with the Pension Fund Custodian (PFC) who are the custodian of the pension fund.
“There has been no case of fraud since the inception of the new pension scheme, the Contributory Pension Scheme in 2004. Nigerians are now more comfortable with the scheme and we expect that more people will join the scheme” He added.

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