Pension funds surpass NBFIRA’s repatriation target

Public investment: Pension funds are eyeing NDP12 which has a dedicated Public Private Partnership window through which private capital can boost public works PIC: MORERI SEJAKGOMO
Public investment: Pension funds are eyeing NDP12 which has a dedicated Public Private Partnership window through which private capital can boost public works PIC: MORERI SEJAKGOMO

Local pension funds grew their assets by almost 13% last year, reaching P139 billion by December, with their domestic portfolio constituting 40.6%, surpassing the target set by the regulator.

Under amendments to the Retirement Funds Act, the Non-Bank Financial Institutions Regulatory Authority (NBFIRA) mandates pension funds to raise their domestic holdings to a minimum of 50% of their total assets, progressively between 2023 and 2027.

Formally known as Pension Fund Rule 2 or PFR2, the NBFIRA statute previously mandated pension funds to invest a minimum of 30% of their assets locally.

Editor's Comment
Let’s stand against the menace of ‘CAT’

Methcathinone’s addictive grip is tightening, and its consequences are devastating. Lives are being ruined, families torn apart, and futures dashed by its destructive power. The drug’s allure knows no bounds, with various methods of ingestion making it accessible to users of all preferences.Whether it’s snorted, smoked, injected, or taken orally, the outcome is the same: a path of ruin and despair. It is time for action. The government,...

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