Micro Pension Return on Investment (ROI) for October 2020 for all PFAs in Nigeria (Month on Month)

November 14, 2020 PensionNigeria

Micro Pension Retirement Savings Account (RSA) Fund 5 Return on Investment (ROI) for October 2020 for all Pension Fund Administrators (PFAs) in Nigeria (Month on Month).

Only eight (8) Pension Fund Administrators (PFAs) have disclosed the Fund prices for their Micro Pension RSA Fund 5 as at 31 October 2020 on their websites. There are indications that twenty (20) PFAs currently have registered Micro Pension contributors, so we hope that all PFAs will disclose their Micro Pension Fund prices soonest.

The eight (8) PFAs disclosing their Micro Pension fund prices are;

AIICO Pension Managers Limited
ARM Pension Managers Limited
AXA Mansard Pension Limited
Investment One Pension Managers Limited
FCMB Pensions Limited
NLPC Pension Fund Administrators Limited
Pensions Alliance Limited
Premium Pension Limited

Please see below the performance of Micro Pension Fund 5 for the eight (8) Pension Fund Administrators (PFAs) for October 2020.

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Micro Pension Plan (MPP) is a pension plan under the Contributory Pension Scheme (CPS) that allows people who are not mandatorily covered by the Pension Reform Act 2014 make financial contributions towards the provision of pension at their retirement or incapacitation.

Micro Pension was introduced in March 2019 and it is voluntary for Persons working in organizations with less than three (3) employees and people working in the informal sector e.g, market women, carpenter, plumbers, mechanic, ride hailing drivers etc, can all open a Micro Pension Account with any Pension Fund Administrator (PFA) of their choice except NUPEMCO and Nigeria Police Force PFA.

Also read Update on Micro Pension Plan

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