The pension contribution scheme exists so that every hardworking Nigerian is guaranteed to receive the pension they deserve when the time comes. 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. The findings show that PFA has a positive and significant effect … +234 1 4626966 (Fax), +234 1 2793583 (Fax), NPF Pensions House 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. info@axamansardpensions.com, No. In 2019, subscriptions stood at N0.52 trillion while redemptions came up to N0.14 trillion, resulting in a net inflow of N0.38 trillion. Nigerian pension fund managers increased in investments in government fixed-income securities in November 2020 as the country continued to face uncertainties amidst the … The Contributory Pension Scheme requires pension funds to be privately managed exclusively by licensed Pension Fund Administrators (PFA). +234 1 2624667 22, Otukpo Street List Of 21 Licensed Pension Fund Administrators In Nigeria 1.AIICO Pension Managers Limited. Nigerian pension fund managers increased in investments in government fixed-income securities in November 2020 as the country continued to face uncertainties amidst the coronavirus pandemic. According to the Pension Commission (Pencom) “Pension Fund Administrators (PFAs) have been duly licensed to open Retirement Savings Accounts for employees, invest and manage the pension funds in a manner as the […] 4.01million and Pension Fund Assets of N1.5trillion 1954 The Basic Pension Decree 102 establishing the Civil Service Pension Scheme 1961 1979 Establishment of the Nigeria Social Insurance Trust Fund (NSITF) to replace the NPF scheme 1993 The Pension Reform Act 2004 2004 Pension Fund Assets of N2.9trillion 2009 2012 PenCom registers (1) The Pension Fund Administrators (PFAs) have invested N8.1 trillion from the nation’s N12.29 trillion pension assets, in federal government securities, as at … 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. +234 8078450652, Put in another way, as at the end of 2019, 18.4% of pension fund assets were invested in treasury bills but as at September 30, 2020, pension funds’ treasury bill investment stood at 6.7%, READ: Pension Fund Assets hits N9.3 trillion as investment in FGN securities drops, Implications for domestic borrowing and monetary policy. Investment in state government securities stood at N150.59 billion, down by 2.5% Month-on-Month. NLPC Pension Fund Administrators Limited (NLPC PFA) is a licensed PFA in Nigeria and we manage Retirement Savings Accounts (RSAs), invest pension funds and pay retirement benefits to our customers. The new pension scheme requires pension funds to be privately managed by licensed Pension Fund Administrators. CrusadersSterling Pensions Ltd is one of the top leading pension fund administrators that is reliable and can be trusted in Nigeria today. Search more about Pension Fund Administration at VConnect. They are used as a means for the government to borrow to cover short term budgetary deficits as well as a means for the Central Bank to manage the supply of money and its inflationary effects. Off Faskari Crescent Project and Seminar Material for Accountancy / Accounting. The breakdown of the amount invested on various FGN securities within the period under review are: Read Also: Pension Fund Assets hits N9.3 trillion as investment in FGN securities drops. Investment in Agency bonds also declined to N6.03 billion, down by 50.9% Month-on-Month. APT Pension Fund Managers Limited. 9. 2020 appears to be the year with the highest growth in the value of mutual fund assets in Nigeria. Abuja, +234 9 6725777, Find list of best Pension Fund Administration in Nigeria with their name, address, contact phone number and other information on VConnect. This is a pension fund administration company that offers retirement support services. It is part of the Asset & Resource Management Company Limited (ARM) Group, one of Nigeria’s most prominent and respected financial service brands. It is managed and administered by Pension Fund Administrators to meet the social welfare needs of the population thus insuring against income loss at old age and the life cycle risks of the society. READ ALSO: Pension fund administrators pile up cash in anticipation of withdrawals. 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 Generalized Methods of Moment was used to analyze secondary data of Pension Fund Administrators. Be that as it may, it is laudable that the Nigerian mutual fund industry stood out in 2020. googletag.pubads().definePassback('/42150330/nairametrics/Nairametrics_incontent_new', [300, 250]).set("page_url", "%%PATTERN:url%%").setClickUrl("%%CLICK_URL_UNESC%%").display(); Get the scoops and market intelligence that can helpyou make better investment decisions right in yourmailbox. Central Business District After the Pension Reform Act in 2004, many people are in search of a reliable and licensed Pension Fund Administrators in Nigeria. He graduated top of the class with B.sc Statistics from the University of Nigeria and an MBA degree with specialization in Finance from Ambrose Alli University Ekpoma, with fellowships from the Association of Enterprise Risk management Professionals(FERP) and Institute of Credit and Collections management of Nigeria (FICCM). Garki, Abuja, +234 8077090000, Total RSA registration for the aforementioned period also increased by 0.17% to 9,188,475. 5, Mekunwen Road +234 1 7610812, The Commission considers applications for license to operate as a PFA from entities that fulfil the requirements as enshrined in Section 60 of the PRA 2014. 207, Zakariya Maimalari Street 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. 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 . +234 1 2625003 Pension Reform Act and PFA in Nigeria. 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