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Pension Schemes net assets continue to grow….

The net assets for the pension industry continued to grow steadily at 13% year-on-year from K4,997 million in 2014 to K 5,664 million in 2015[1].

However, the return on average net assets (19%) for the first time in many years fail below the 2015 annual of inflation (21%). 

The market value of tradable equity held by pension schemes increased to K1,505 million (2014: K1,287 million) representing a 17% increase. However, dividends received reduced in 2015 to K 45 million (2014: K52.50 million) representing a 33% drop.

 

Investments in unlisted equity reduced to K 550 million in 2015 (2014: K 562 million) representing a 2% decrease.

 

The value of investments in property increased to K1,322 million in 2015 (2014: K 1,072 million) representing 23% increase.  Rental income increased to K75.50 million in 2015 (2014: K 70.60 million) representing a 7% increase.

Pension contributions by members and employers increased to K730 million (2014: K648 million) representing a 13% increase.

The industry also recorded growth in membership of 9% from 102,596 in 2014 to 112,116 in 2015. The main contributing schemes to the increase were Local Authority Superannuation Fund and Saturnia Regna Pension Fund.

 

[1] 2014 Comparative figures have been restated