Analysis of the recently released September 2020 edition of Pension Fund assets, by the Pension Commission of Nigeria, PenCom, shows that pension fund managers reallocated their assets away from treasury bills to FGN Bonds. Since then, assets under management has risen to c.NGN467billion for more than 750,000 registered contributors as at the end of September 2020. Introduction 1.1 Background To The Study. However, as contributions and trade continued on a growth trajectory, the pension managers, Pension Fund Administrators (PFAs) invested more funds than before in Federal Government Securities. Pension fund administration in Nigeria. For today, they have the highest fund price in the industry. Victoria Island +234 1 2624667 PENSION FUND ADMINISTRATORS A Pension Fund Administrators in Nigeria are licensed to manage Pension Fund Assets on behalf of pension fund contributors. The Contributory Pension Scheme requires pension funds to be privately managed exclusively by licensed Pension Fund Administrators (PFA). pension fund administrators (pfa) The Contributory Pension Scheme requires pension funds to be privately managed exclusively by licensed Pension Fund Administrators (PFA). In the month of September 2020, according to the latest report, pension fund managers closed out of treasury bill positions worth N0.224 trillion while loading up on FGN bonds worth N0.254 trillion. The main duty of the Pension Fund Administrators in Nigeria is to open specialized savings accounts for all the people who are officially employed. RSA registration marginally increased by 0.17% to 9,188,475 as at November 2020. As the low-interest regime that characterized most of 2020 continues with no immediate sign of an increase, pension fund managers have also continued to rid their portfolios of treasury bill investments. In Nigeria, the requirement for the Contributory Pension Scheme is that the pension funds are to be privately and exclusively managed by licensed Pension Fund Administrators (PFA). +234 1 2662002, No. Garki – Abuja, +234 07029128221, 14 Trustfund Pensions Plc Plot 820/821, Labour House Central Area, Garki, Abuja The National Pension Commission has given the Pension Fund Administrators directives on how to ensure smooth movement of Retirement Savings Accounts and Retiree Life Annuity . According to the report from Pension Nigeria, no PFA had negative returns on investment (ROI) during the period under review, indicating that all […] The main functions of the PFA are to open Retirement Savings Account (RSA) for employees; invest and manage pension fund assets; payment of retirement benefits and accounting for all transactions relating to the pension … The pension industry fund assets rose to N12.29trn by November 30, 2020. Unlike in 2019, when mutual funds made an estimated gain of N9.9 billion, the N46.7 billion made in 2020, makes Corona Virus a non-issue for the industry. Investment in green bonds declined to N11.8 billion, down by 10.6% Month-on-Month. +234 1 2613413, No. The Nigeria’s pensioners indeed expect so much from the pension administrators, and from such expectations, which means that, every gain or return made from investment should be made available to those, who contributed the money, I mean, the employees, since the money belonged to them, with the exception of the other minimal fees and minimal charges expected for the pension administrators. This is due to increases in pension that are not in accordance with salary inflation and/or lack of pension entitlements increase whatsoever. We were incorporated on April 14, 2005 to manage and administer retirement savings contributions of employees in Nigeria as a result of the Pension Reform Act of 2004. The Net asset value of all PFAs in the country as of November 2020 stood at N12.3 trillion, marginally up by +1.98% Month-on-Month. It is on record that in 2014, the company was selected as the best performing pension fund administrator in Nigeria and have positive rating on returns on investment (ROI). It is guided in the discharge of its duties by the Trust Deed and Regulations for the Fund executed by the sponsor company, The Shell Petroleum Development Company of Nigeria … Off Faskari Crescent +234 9 4615700, usmairami@premiumpension.com READ ALSO: Pension fund administrators pile up cash in anticipation of withdrawals. (Read Also: How foreign exchange risks and others affect the Nigerian pension industry). It is regulated by the Pension Commission and designed in a way that your employer has no say in how your pension should be invested and paid to you. List Of 21 Licensed Pension Fund Administrators In Nigeria 1.AIICO Pension Managers Limited. RELATED POSTS Vitafoam Net Profit Up By 72% Despite COVID-19 Stock Market Opens Week With N39bn Loss This investment represents […] APT Pension Funds management. While Fund IV with 22 PFAs, recorded 9.01% return on investment. +234 1 4627087 (Fax), List of Organisations Issued Compliance Certificates, Pension Transitional Arrangement Directorate, Guidelines for Appointment of Top Management, Nigerian University Pension Management Company (NUPEMCO), 174 Ademola Adetokunbo, Wuse 2, Abuja, Nigeria. Phone numbers are 0812 613 1330-9 and 09 461 5700-9. Lagos, +234 1 2715500, The main functions of the PFAs are to open Retirement Savings Accounts (RSA) for employees, invest and manage pension fund assets, payment of retirement benefits, and accounting for all transactions relating to … Plot 636, Nanka Close, Zone 3, Wuse, Abuja. Investment in state government securities stood at N150.59 billion, down by 2.5% Month-on-Month. But the enactment of the new act that the Pension Fund Reform Act of 2004 made it to wear a new looks. 29, Marina (Church House), 3rd Floor, Marina, Lagos Island, Lagos. Upshots: The increased investment in FGN securities by PFAs within the aforementioned period might be attributable to an earlier order by CBN which prohibited PFAs from OMO Auctions. Let’s find out who they are, what they do, and how to find a reliable one. The order redirected the investment focus of most PFAs, with many opting for other low-risk FGN securities, possibly explaining why the increase occurred. The new pension scheme in Nigeria is a contributory defined one that are managed by the pension fund Administrators with the pension fund … We were incorporated on April 14, 2005 to manage and administer retirement savings contributions of employees in Nigeria as a result of the Pension Reform Act of 2004. 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