Micro Pension RSA Fund 5 Return on Investment (ROI) for January to October 2022 for all PFAs in Nigeria (Year to Date)

November 25, 2022 PensionNigeria

Micro Pension Retirement Savings Account (RSA) Fund 5 Return on Investment (ROI) for January to October 2022 for all Pension Fund Administrators (PFAs) in Nigeria.

Only twelve (12) Pension Fund Administrators (PFAs) disclosed the Fund prices for their Micro Pension RSA Fund 5, on their websites, as at 31 October 2022, as required by the guidelines on the minimum information to be disclosed on PFAs’ website.

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Based on reports released by the National Pension Commission (PenCom), the regulator for pension administration in Nigeria, as at 30 June 2022, seventeen (17) PFAs had registered Micro Pension contributors, we call on all PFAs to take the “Transparency Path” and disclose the fund prices for their Micro Pension Fund 5 on their websites.

The twelve (12) PFAs that disclosed their Micro Pension fund prices on their websites as at 31 October 2022 are;

NLPC Pension Fund Administrators Limited
Pensions Alliance Limited
Tangerine APT Pensions Limited
Veritas Glanvills Pensions Limited
FCMB Pensions Limited
Norrenberger Pensions Limited (IEI-Anchor Pension)
Stanbic IBTC Pension Managers Limited
Premium Pension Limited
CrusaderSterling Pensions Limited
ARM Pension Managers Limited
Fidelity Pension Managers Limited
Trustfund Pensions Limited

Although, Leadway Pensure PFA, OAK Pensions, Sigma Pensions, Guaranty Trust Pension (Investment One) and Radix Pension, did not disclose their Micro Pension Fund prices on their website as at 31 October 2022, but we were able to easily get the fund prices directly from the PFAs.

Please see below the performance of Micro Pension Fund 5 for January to October 2022 for seventeen (17) PFAs.

Kindly note that;

Sigma Pensions Limited started their Micro Pension Fund around July 2022.

Nigeria Police Force Pensions Limited and Nigerian University Pension Management Company, do not have Micro Pension because they are not PFAs meant for the general public.

First Guarantee Pension Limited does not disclose their Micro pension fund price as required by law nor make it available when requested for. We call on First Guarantee Pension Limited to ensure that all their Fund prices are disclosed on their website as required by Law and also ensure they make their fund prices available when requested for.

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 the informal sector, market women, carpenter, plumbers, mechanic, ride hailing drivers, bloggers, influencers etc, can all open a Micro Pension Account with any Pension Fund Administrator (PFA) of their choice except Nigerian University Pension Management Company (NUPEMCO) and Nigeria Police Force Pensions Limited.

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