Central Business District The main duty of the Pension Fund Administrators in Nigeria is to open specialized savings accounts for all the people who are officially employed. The Pension Fund Administrators (PFAs) have increased their investments in Federal Government of Nigeria securities by 3.7% to N8.14 trillion in November 2020. According to the report from Pension Nigeria, no PFA had negative returns on investment (ROI) during the period under review, indicating that all PFAs for Fund I, II, III, and IV recorded positive returns. Leadway Pensure PFA Limited. Labour House (1) IEI-Anchor Pension Managers Limited. Abuja, +234 9 6725777, (Read Also: How foreign exchange risks and others affect the Nigerian pension industry). #8 Fidelity Pension Managers Limited. 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 the pension funds under their management. The new bodies that were allowed to handle all these tasks were titled Pension Fund Administrators. ARM Pension Managers (PFA) Ltd is one of the first seven Pension Fund Administrators (PFA) granted license by the National Pension Commission in December 2005. Investment in Agency bonds also declined to N6.03 billion, down by 50.9% Month-on-Month. sami@oakpensions.com, Plot 289 Ajose Adeogun Street, +234 9 5237816, 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. Appraisal Of Financial Reporting Practices Of Pension Fund Administrators In Nigeria Are you a final year student? The chief body that manages the administrators is the National Pension Commission in Nigeria that occasionally gives them instructions on how to manage the nation’s pensions from this moment on. BY ZAKA KHALIQ | 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 the end of November, 2020, LEADERSHIP can now reveal. Dikko street, Off Shehu Shagari Way Data from the National Pension Commission (PenCom) shows that Pension Fund Administrators, PFAs, invested N8.14 trillion in federal government bonds in November, N293 billion more than the amount … Lagos, Plot 820/821 Fund III recorded an industry average returns of 10.37%, with 22 PFAs. 2 Apt Pension Fund Managers Plot 266, Cadastral A O, Central Business District, Garki, Abuja Retirement Savings Account (RSA) Fund IV Return on Investment (ROI) for December 2020 for all Pension Fund Administrators (PFAs) in Nigeria (Month on Month). Nairaland Forum / Nairaland / General / Investment / Who Is The Best Pension Fund Administrator (PFA) In Nigeria? Central Business District (CBD) Nigeria’s pension fund assets increase to N8.14 trillion, How foreign exchange risks and others affect the Nigerian pension industry, How foreign exchange risks and others affect the Nigerian pension industry), Pension fund administrators pile up cash in anticipation of withdrawals, Lagos approves 33% increase for all state pensioners, Pension Fund Assets hits N9.3 trillion as investment in FGN securities drops, Nigeria’s Micro Pension industry: A gold mine waiting to be tapped, FG posts 27% revenue shortfall in 2020 as budget deficit hit N6.1 trillion, Worry for PFAs as pandemic-induced unemployment lowers new pension accounts, Nigeria’s Eurobond yield hit 12.8% as investors flee emerging markets, How to redeem your unclaimed dividends in Nigeria, Where to buy Real Estate in Lagos in 2021, Nigeria’s Asset to GDP Ratio Is low despite rise in Mutual Fund value. READ: FG posts 27% revenue shortfall in 2020 as budget deficit hit N6.1 trillion, At the beginning of 2020, total pension fund assets invested in treasury bills stood at N1.88 trillion, but that has fallen to N0.78 trillion as at the end of September 2020. Off Gimbiya Street Abuja, hamisu.idris@investment-onepension.com 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. APT Pension Funds management. +234 1 2624667 Effective from 2nd July 2018, the MultiFund Structure for Retirement Savings Accounts (RSA) was required to be implemented across all the PFAs in Nigeria. Although most of the funds that recorded huge gains came from the Euro Dollar category, Bond and Fixed income funds were not left behind as a whole lot of them stood out with mouth-watering gains. PENSION FUND ADMINISTRATORS A Pension Fund Administrators in Nigeria are licensed to manage Pension Fund Assets on behalf of pension fund contributors. Since the beginning of 2020, pension fund managers have moved out about N1.112 trillion of treasury bills investments into mostly FGN Bonds. Lagos, +234 1 2715500, 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 National Pension Commission (Pencom) is the body that supervises and regulates the Nigerian Pension Industry. Shell Nigeria Closed Pension Fund Administrator Limited is a Closed Pension Fund Administrator in Nigeria. 9. +234 9 5239434 (Fax), Adebola House, 3rd Floor The company was selected as the best pension fund administrator in Nigeria in 2014. Despite the disruptions caused by the COVID-19 pandemic, which affected most aspects of the Nigerian economy, Pension Fund Administrators (PFAs) in Nigeria performed satisfactorily, as they recorded positive returns between January and August 2020. READ: Nigeria’s Asset to GDP Ratio Is low despite rise in Mutual Fund value. Plot 2, Oba Akran Avenue The Crusaders Sterling capital includes voluntary and retirement contribution. Fug Pensions Limited is a Nigerian pension fund administration service outlet for pre-retirement training and counseling services. Compared to 2019, the capital activities, comprising of subscriptions and redemptions were slightly far afield. READ: Worry for PFAs as pandemic-induced unemployment lowers new pension accounts. RELATED POSTS Vitafoam Net Profit Up By 72% Despite COVID-19 Stock Market Opens Week With N39bn Loss This investment represents […] APT Pension Fund Managers Limited. Fund II industry has 22 PFAs, and recorded an average return of 9.33%. / N1.16tn Pension Fund Meant For Infrastructure Idle – Pencom / Best Pension Fund Administrator. We were incorporated on April 14, 2005 to manage and administer retirement savings … +234 9 2340112, +234 1 4627060, Their head office is at 1678 Olakunle Bakare Close, Off Sanusi Fafunwa, Victoria Island, Lagos. They have a mobile app from which you can oversee your pension account and make the necessary enquiries. The Contributory Pension Scheme requires pension funds to be privately managed exclusively by licensed Pension Fund Administrators (PFA). Under this Act, all employees in the public service of the Federation, and the private sector are involved except the Military, the judges and top political office holders. The same data source now shows that as at the end of 2020, the net asset value, NAV of Nigerian mutual fund had risen to N1.572 trillion, representing an increase of 50.79%. The nation’s pension assets rose significantly by 1.76 trillion in the last one year, growing from N9.81 trillion in October 2019 to N11.57 trillion at the end of September 2020. 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). 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. 22, Otukpo Street We are a licensed Pension Fund Administrator with over 13 years of professional experience in Pension Funds Administration. BY ZAKA KHALIQ | 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 the end of November, 2020, LEADERSHIP can now reveal. This is according to recent data from the National Pension Commission (PenCom), which revealed that the amount invested by PFAs on FGN securities including; Bonds, Treasury Bills, etc., increased from N7.85 trillion as of October 2020 to N8.14 trillion by the end of November 2020. Please see below the performance of Fund IV for all Pension Fund Administrators (PFAs) in Nigeria for December 2020. Click to Check. +234 1 2627492 (Fax), info@oakpensions.com Victoria Island, Lagos, +234 1 2667710, 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. Maitama – Abuja, Location: 312A, May be, fiscal policy may become a more potent instrument of economic management, if that happens. Net inflows for 2020 stands at N0.483 trillion. It is worth noting that no single PFA was dominant in all the four funds. After my first article on the best pension fund managers in Nigeria, a few people have commented differently on the article. Pension Reform Act and PFA in Nigeria. This translates to… Garki, Abuja, +234 8077090000, This represented a 1.94% increase when compared with N12.053trn The good thing about it is that no particular fund group dominated in making gains. 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). * Poor standard of living, occassined by poverty among pensioners in Nigeria. Project and Seminar Material for Accountancy / Accounting. 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 PFA must also satisfy the Commission that it has the professional capacity to manage pension funds and administer retirement benefits. Johnson is a risk management professional and banker with unbridled passion for research and writing. Despite the disruptions caused by the COVID-19 pandemic, which affected most aspects of the Nigerian economy, Pension Fund Administrators (PFAs) in Nigeria performed satisfactorily, as they recorded positive returns between January and August 2020. RSA registration marginally increased by 0.17% to 9,188,475 as at November 2020. 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 … That is to say, there are some other climes that face some problems as … 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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