Micro Pension RSA Fund 5 Return on Investment (ROI) for Month of August 2023 for all PFAs in Nigeria (Month on Month)

October 27, 2023 PensionNigeria

Micro Pension Retirement Savings Account (RSA) Fund 5 Return on Investment (ROI) for Month of August 2023 for all Pension Fund Administrators (PFAs) in Nigeria.

Only eleven (11) Pension Fund Administrators (PFAs) disclosed the Fund prices for their Micro Pension RSA Fund 5, on their websites, as at 31 August 2023, 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 2023, 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 eleven (11) PFAs that disclosed their Micro Pension fund prices on their websites as at 31 August 2023 are;

ARM Pension Managers Limited
FCMB Pensions Limited
Fidelity Pension Managers Limited
NLPC Pension Fund Administrators Limited
Norrenberger Pensions Limited
Pensions Alliance Limited
Premium Pension Limited
Radix Pension Fund Managers Limited
Stanbic IBTC Pension Managers Limited
Trustfund Pensions Limited
Veritas Glanvills Pensions Limited

Although Access Pensions, CrusaderSterling Pensions, Guaranty Trust Pension, Tangerine APT Pensions, Leadway Pensure and OAK Pensions did not disclose their Micro Pension Fund prices on their website as at 31 August 2023, we were able to easily get the fund prices directly from the PFAs.

Please see below the performance of Micro Pension Fund 5 for Month of August 2023 (Month on Month) for seventeen (17) PFAs.

Kindly note that;

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.

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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