The assets of the Punjab Pension Fund (PPF) are estimated to grow to Rs84.7 billion at the end of the present fiscal year of 2020-21. The government, according to the provincial budget documents, has contributed Rs38.1bn into the fund in 13 years while the remaining Rs46.6bn has been earned through its investments.
The budget documents show the fund has earned a ‘reasonable’ real rate of return of 4.26 per cent per annum since its inception in 2008-09, illustrating the success of its investment strategy. “The investment strategy followed (by the PPF) over the years has worked well. The Pension Fund continues to earn an attractive real rate of return because of its high yielding portfolio of federal government debt like Pakistan Investment Bonds, Term Finance Certificates and National Saving Schemes. The fund’s equity portfolio has also posted a healthy return of 28.8pc during the outgoing financial year,” the documents say.
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South-West pensioners ask govs to implement consequential adjustment South-West pensioners ask govs to implement consequential adjustment
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Pensioners under the aegis of Nigeria Union of Pensioners, South-West zone have called on the governors from the region to consider the implementation of the recently approved consequential adjustment and increase in pension to reflect the new National Minimum Wage by the Federal Government.
The pensioners who stated this during the meeting of the union in Akure, the Ondo State capital, on Friday, disclosed that the Federal Government had approved an adjustment in pensions of retirees under the Defined Benefit Pension Scheme arising from the implementation of the New National Minimum Wage Act 2019.