Written on November 18, 2021
‘Investors fail to absorb available pension funds’

NICO Pensions, one of the country’s pension funds managers, has said the country has limited investment portfolios which cannot accommodate pension funds which now stands at over K1 trillion.

This was revealed during pension updates seminar in Blantyre organised by the pension funds administrator.

NICO Pension General Manager Gerald Chima, the markets are not sufficient to invest in the amount of funds that the pension industry has as even the stock market cannot accommodate all of it.

He added that while this was the case, fund managers are working towards creating markets that can be invested into

to keep the pension funds growing.

“We are developing new products and asset options so that we channel these funds where they can appropriately be invested into, but the economy and the financial sector need to grow to absorb these funds,” he said.

Chima added that NICO Pension organised the seminar in a bid to update client’s on market trends.

One of the clients, Kazumba Munthali, said the seminar was enlightening to both employers and employees and it has opened their eyes on some issues.

“We have understood that pension is important because we need to save money for the future in the event that we get old and retire from work or when something happens,” he said.

Similar seminars will take place in Lilongwe, Mzuzu and Mangochi in the coming week.

BY JUSTIN MKWEU – THE DAILY TIMES

Related Articles

NICO HOLDINGS PLC COMMITTED TO GROWTH

NICO Holdings Plc has posted unaudited summary consolidated (group) and separate financial statements for the six months period ended 30 June 2022. The results reflect profit after tax for the half-year period of K11.8 billion. This is 68 percent higher than the K7.0...

NICO HOLDS FAMILY DAY

NICO Group successfully held a family day after a two-year break that was caused by the COVIV-19 pandemic. The event, which started off with aerobics at Chichiri Shopping mall then a fun run to Blantyre Sports club, saw members of staff from across the Group, which...

NICO Life holds first Tilinanube draw

NICO Life has successful conducted its first draw for its Tilinanube Campaign which has seen two policy holders getting a full year of not paying premiums. The initiative was introduced in June to ease the pressure that comes with the monthly premiums. NICO Life Chief...