This paper examined Pension Fund Assets (PFA)and Infrastructural Financing (INFF) in Nigeria. The National Pension Commission (PenCom) in compliance with the Public Procurement Act, 2007, is hereby inviting reputable experienced and interested consultants to submit Expression of Interest (EOI) for the provision of the under listed services: (Download for details) +234 9 5237816, This site uses Akismet to reduce spam. 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. Learn how your comment data is processed. READ: Worry for PFAs as pandemic-induced unemployment lowers new pension accounts. Central Business District Nigerian Agip Cpfa Limited 1, Elsie Femi Pearse Off Adeola Odeku Street Victoria Island, Lagos. READ ALSO: Pension fund administrators pile up cash in anticipation of withdrawals. After the submission of the Pension Reform Act in Nigeria in 2004, there has been established a completely new scheme of calculation and management of pension benefits. Pension scheme is not new in Nigeria, it had started since 1950s. 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. 12 out of the 22 PFAs performed above the average ROI of 9.28%, for all the funds put together. Pensions Alliance Limited is a joint venture between First Securities Discount House Limited (FSDH) (now known as FSDH Merchant Bank) and African Alliance Insurance Company Limited. Let’s find out who they are, what they do, and how to find a reliable one. 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 PFAs invested N7.50 trillion in FGN Securities in January and N8.14 trillion in November, representing 66.22 per cent of the total N12.29 trillion fund assets. We are a licensed Pension Fund Administrator with over 10 years of professional experience in Pension Funds Administration. Get project topics and ideas with materials. He is currently pursuing his PhD in Risk management in one of the top-rated universities in the UK. Garki, Abuja, +234 8077090000, Compared to 2019, the capital activities, comprising of subscriptions and redemptions were slightly far afield. RELATED POSTS Vitafoam Net Profit Up By 72% Despite COVID-19 Stock Market Opens Week With N39bn Loss This investment represents […] Abuja, +234 9 6725777, After all these specialists manage people’s finance and need to be absolutely trustworthy. enquiries@investment-onepension.com, 121/123 Funsho Williams Avenue 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. 4, Agwu Street 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. 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. Since the beginning of 2020, pension fund managers have moved out about N1.112 trillion of treasury bills investments into mostly FGN Bonds. We are a licensed Pension Fund Administrator with over 13 years of professional experience in Pension Funds Administration. Crusaders Sterling Pensions Ltd is one of the top and reliable pension fund administrators in Nigeria today. South West Ikoyi, Lagos, No. FMBN House, Plot 266 CAD zone AO, Central Business District, Lagos. +234 1 2793583 (Fax), NPF Pensions House Fund III recorded an industry average returns of 10.37%, with 22 PFAs. The new pension scheme requires pension funds to be privately managed by licensed Pension Fund Administrators. 14 Trustfund Pensions Plc Plot 820/821, Labour House Central Area, Garki, Abuja Central Business District (CBD) Investment in Agency bonds also declined to N6.03 billion, down by 50.9% Month-on-Month. 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. 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. Off Faskari Crescent 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. … Pension fund administration in Nigeria. Its sole business is the administration and management of retirement savings (pension funds). For today, they have the highest fund price in the industry. 15. The findings show that PFA has a positive and significant effect … Victoria Island NLPC PFA Limited and Investment One Pension Managers Limited, however, had dominance in three funds. We are one of the licensed Pension Fund Administrators (PFAs) in Nigeria. APT Pension Funds management. info@axamansardpensions.com, No. Other Administrators that made the list includes, Nigeria University Pension Management Co. Limited (7.23%), Pension Alliance Limited (7.40%), FCMB Pensions Limited (7.60%), Sigma Pensions (8.86%), NPF Pensions Limited (8.95%). Project and Seminar Material for Accountancy / Accounting. 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. Plot 3820, R.B. After my first article on the best pension fund managers in Nigeria, a few people have commented differently on the article. Ikoyi, Lagos, +234 1 2715005, A deeper analysis of the industry reveals that in 2020, mutual fund contributions amounted to about N0.903 trillion while redemptions amounted to about N0.42 trillion. Trustfund Pensions Limited is a company incorporated in Nigeria. List Of 21 Licensed Pension Fund Administrators In Nigeria 1.AIICO Pension Managers Limited. Lagos, No. Phone numbers are 0812 613 1330-9 and 09 461 5700-9. According to data from the Security and Exchange Commission, SEC, the total value of mutual funds in Nigeria stood at N1.042 trillion as at the end of 2019. +234 8078450652, Please see below the performance of Fund IV for all Pension Fund Administrators (PFAs) in Nigeria for December 2020. The PFA must also satisfy the Commission that it has the professional capacity to manage pension funds and administer retirement benefits. +234 1 4627067, You can also use this app to calculate how much your expected pension will be. 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 … 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 … 4. Maitama – Abuja, Location: 312A, 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. 14, Keffi Street Number 1, Zambezi Crescent, Off Aguiyi Ironsi Street In 2014, the company was voted and selected as the best performing pension fund administrator in Nigeria having positive rating on returns on investment (ROI). This is a pension fund administration company that offers retirement support services. Phone E-mail Website. The Multi-Fund structure is a framework that aims to align the age and risk profile of RSA holders, by dividing the RSA Fund into four distinct fund categories; In implementing the Multifund framework, the Pension Commission allows Retirement Savings Account (RSA) holders to move from one fund category to another. 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 company is licensed by the National Pension Commission, the pension regulatory body, as a pension fund Administrator in accordance with the provisions of the Pension Reform Act 2004. Introduction 1.1 Background To The Study. +234 1 2662002, No. NLPC Pension Fund Administrators Limited (NLPC PFA) is the home of tested, trusted and effective pension fund administration in Nigeria. Their head office is at 1678 Olakunle Bakare Close, Off Sanusi Fafunwa, Victoria Island, Lagos. +234 9 6725946, +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. #8 Fidelity Pension Managers Limited. +234 1 2692097, Abuja, Nigeria: Pen and Pages Ltd. QUARTERLY JOURNAL OF CONTEMPORARY RESEARCH, FEDERAL UNIVERSITY OTUOKE, Vol 1&2, Mar. The company was selected as the best pension fund administrator in Nigeria in 2014. Out of nowhere, Stanbic IBTC Nigeria Equity fund sneaked in with some sizable gains too. Garki, Abuja, +234 9 7831663 – 4, 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. RSA registration marginally increased by 0.17% to 9,188,475 as at November 2020. Find list of best Pension Fund Administration in Nigeria with their name, address, contact phone number and other information on VConnect. We were incorporated on April 14, 2005 to manage and administer retirement savings … Investment in state government securities stood at N150.59 billion, down by 2.5% Month-on-Month. 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. 0 review(s) | Closed Pension Fund Administrators +234 1 2715061, No 21B, Olosa Street What you should know: Nairametrics had earlier reported that CBN had restricted OMO auctions to banks and foreign investors. 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. +234 9 2340096 (Fax), No. The pension contribution scheme exists so that every hardworking Nigerian is guaranteed to receive the pension they deserve when the time comes. 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). The pension industry fund assets rose to N12.29trn by November 30, 2020. Total RSA registration for the aforementioned period also increased by 0.17% to 9,188,475. Fund II industry has 22 PFAs, and recorded an average return of 9.33%. +234 1 4626966 (Fax), READ: Where to buy Real Estate in Lagos in 2021. 9. 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 Garki Area 11 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. 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%). IEI-Anchor Pension Managers Limited. Sigma Pension +234 1 2627490-1, Garki – Abuja, +234 07029128221, APT Pension Fund Managers Limited. 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. READ: Nigeria’s Eurobond yield hit 12.8% as investors flee emerging markets. Fidelity Pension Managers Limited is a pension fund administrator in Nigeria that has been recognized globally as the best PFA in the country. 22, Otukpo Street 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 … Nigerian Agip Cpfa Limited is a Closed Pension Fund Administrator in Nigeria. 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. Oak Pensions Fug Pensions Limited is a Nigerian pension fund administration service outlet for pre-retirement training and counseling services. Pension Reform Act and PFA in Nigeria. Opposite Force Headquarters Opposite NICON Luxury Hotel 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%. READ: Nigeria’s Micro Pension industry: A gold mine waiting to be tapped. 29, Marina (Church House), 3rd Floor, Marina, Lagos Island, Lagos. 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). This indicates a growth of 4.3% Month-on-Month. This is the Retiree Fund. 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 order redirected the investment focus of most PFAs, with many opting for other low-risk FGN securities, possibly explaining why the increase occurred. 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. 4 Agwu Street, off Faskari Crescent, Area 3, Garki, Abuja. Plot 636, Nanka Close, Zone 3, Wuse, Abuja. Fidelity Pension Managers Limited. (9346 Views) Is It Possible To Change PENSION FUND ADMINISTRATOR ? 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. Premium Pension Limited is a reputable pension fund administration service arena in Nigeria for pension managerial services. Radix Pension Fund Managers Limited, Stanbic IBTC Pension Managers Limited, Sigma Pensions Limited, OAK Pensions Limited, AXA Mansard Pension Managers Limited, NPF Pensions Limited, Crusader Sterling Pensions Limited, and Nigerian University Pension Management Limited dominated the list in one fund. +234 1 2625003 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). Effective from 2nd July 2018, the MultiFund Structure for Retirement Savings Accounts (RSA) was required to be implemented across all the PFAs in Nigeria. Investment in green bonds declined to N11.8 billion, down by 10.6% Month-on-Month. Victoria Island Treasury bills serve a whole lot of purposes for the government. While Fund IV with 22 PFAs, recorded 9.01% return on investment. But the enactment of the new act that the Pension Fund Reform Act of 2004 made it to wear a new looks. Lagos, dapo.akisanya@axamansard.com Ikorodu Road, Anthony +234 9 5239434 (Fax), Adebola House, 3rd Floor Since then, assets under management has risen to c.NGN467billion for more than 750,000 registered contributors as at the end of September 2020. 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. Abuja, hamisu.idris@investment-onepension.com +234 1 7610812, 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. We are a licensed Pension Fund Administrator with over 13 years of professional experience in Pension Funds Administration. Behind Ministry Of Finance PENSION FUND ADMINISTRATORS A Pension Fund Administrators in Nigeria are licensed to manage Pension Fund Assets on behalf of pension fund contributors. Stanbic IBTC Pension Managers Limited They are one of the most popular pension companies frequently used by Nigerians They are a Lagos based pension fund administrator in Nigeria for retirement and benefit payment services. The same analysis points to the fact that mutual funds gathered an estimated sum of N46.7 billion in gains. The Crusaders Sterling capital includes voluntary and retirement contribution. Plot 2, Oba Akran Avenue +234 9 4615700, usmairami@premiumpension.com 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. Net inflows for 2020 stands at N0.483 trillion. Ikeja Lagos +234 8157306868-MD +234 1 2624667 +234 1 2625003 +234 1 2624174 (Fax) +234 1 2627492 (Fax), info@oakpensions.com (1) Closed Pension Fund Administrator Ltd is the Trustee of the Shell Nigeria Staff (Non Contributory) Pension Fund. 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. +234 9 4614400-29, 2016, 196-209 Strategies to … Prior to the issuance of an operating license, the PFA must be a limited liability company whose sole object is the management of pension fund assets. (Economist, 2008). Abuja, +234 1 4616680, 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. We are one of the licensed Pension Fund Administrators (PFAs) in Nigeria. Surulere, Lagos, Murjanatu House (First Floor) All PFAs for Fund I, II, III, and IV recorded positive returns for the period despite COVID-19 pandemic. Pension Reform Act and PFA in Nigeria. 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. It is part of the Asset & Resource Management Company Limited (ARM) Group, one of Nigeria’s most prominent and respected financial service brands. Fidelity Pension Managers Limited, a subsidiary of Fidelity Bank Plc. 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 funds under their management. Shell Nig. 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. 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