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Pension funds surpass NBFIRA’s repatriation target

Friday, March 08, 2024 | 1390 Views |

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.

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Pension funds surpass NBFIRA’s repatriation target

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.