The PFA must also satisfy the Commission that it has the professional capacity to manage pension funds and administer retirement benefits. 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. 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. In like vein, the Central Bank’s ability to implement monetary policies through treasury bills and others, open market operation, may also suffer. +234 9 4615707-9, Meanwhile, 10 PFAs performed below the average ROI, with Premium Pensions Limited (4.96%) at the bottom of the list, followed by APT Pension Fund Managers (5.81%), First Guarantee Pensions Limited (6.46%), TrustFund Pensions Plc (6.61%), ARM Pension managers (7.0%). Fund I industry with 20 PFAs, recorded an average of 8.14% returns between January and August 2020. Victoria Island, Lagos, +234 1 2667710, The five (5) Pension Fund Administrators (PFAs) with the highest Return on Investment (ROI) for Fund … RELATED POSTS Vitafoam Net Profit Up By 72% Despite COVID-19 Stock Market Opens Week With N39bn Loss This investment represents […] This represented a 1.94% increase when compared with N12.053trn 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 […] Since the beginning of 2020, pension fund managers have moved out about N1.112 trillion of treasury bills investments into mostly FGN Bonds. The pension industry fund assets rose to N12.29trn by November 30, 2020. All PFAs for Fund I, II, III, and IV recorded positive returns for the period despite COVID-19 pandemic. Mr. Eguarekhide Longe MD. Investment in Sukuk bond increased to N100.07 billion in November 2020, up by +6.9% Month-on-Month. The National Pension Commission (PenCom) disclosed this in its unaudited report on pension fund portfolio, which was obtained by Biz Watch Nigeria on Thursday. Dikko street, Off Shehu Shagari Way +234 8078450652, Closed Pension Fund Administrator Ltd is the Trustee of the Shell Nigeria Staff (Non Contributory) Pension Fund. Trustfund Pensions Limited is a company incorporated in Nigeria. Fund II industry has 22 PFAs, and recorded an average return of 9.33%. While the year 2020 will go down in the annals of history as one of the worst years in the history of mankind, it was not so bad for the Nigerian mutual fund industry. +234 1 2625003 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. The Crusaders Sterling capital includes voluntary and retirement contribution. 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. Address is at FUG Pensions House , 26, Commercial Avenue Sabo, Yaba, Lagos. (Read Also: Lagos approves 33% increase for all state pensioners). 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 … 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 Oyinkan Drive READ: Worry for PFAs as pandemic-induced unemployment lowers new pension accounts. The pension fund administrators were established for employees in Nigeria as a contributory pension scheme for payment of retirement benefits of employees to whom the scheme applies. We are a licensed Pension Fund Administrator with over 13 years of professional experience in Pension Funds Administration. Project and Seminar Material for Accountancy / Accounting. List Of 21 Licensed Pension Fund Administrators In Nigeria 1.AIICO Pension Managers Limited. We are one of the licensed Pension Fund Administrators (PFAs) in Nigeria. But the enactment of the new act that the Pension Fund Reform Act of 2004 made it to wear a new looks. Pensions Alliance Limited (PAL Pensions) is Nigerian based, youth-friendly pension funds administrative company that help with the administration of retirement pension funds, so their customers can secure a future without worries and retire with a smile. 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