Mrs. Aisha Dahir-Umar
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Chuks Udo Okonta
Pension Fund Administrators (PFAs) have continued to harvest good Return on Investment paving ways for improved interest for Retirement Saving Account (RSA) holders.
This tremendous growth, prompted the National Pension Commission (PenCom) in December 2017, to mandate PFAs to commenced the enhancement of pensions of all retirees under Programmed Withdrawal (PW).
The Acting Director-General, PenCom, Mrs. Aisha Dahir-Umar, said the commission having observed that the returns being generated by the PFAs on the balances of the RSAs of majority of retirees could be used to enhance their monthly pensions, sought for and obtained the approval of the Secretary to the Government of the Federation to implement the pension enhancement.
According to a report by Pension Nigeria, which detailed the return on investment for RSA fund for half year 2018, Premium Pension Limited, led other PFAs with 7.51 per cent growth as its RSA fund price moved from 3.69 on January 1 to 3.97 by June 30, 2018.
Axa Mansard Pension Limited fund price grew by 6.88 per cent, moving from 2.53 to 2.71; ARM Pension had 6.70 per cent, (3.65-3.90); CrusaderSterling Pension, 6.62 per cent, (3.73-3.98); Stanbic IBTC Pension Managers, 6.62 per cent, (3.51-3.75); Investment One Pension, 6.28 per cent, (2.33-2.48); Radix Pension Fund Managers, 6.23 per cent, (1.92-2.04); Legacy Pension, 6.21 per cent, (3.41-3.62) and Pension Alliance, 6.18 per cent,(3.24-3.44).
Others are, Fidelity Pension Managers, 6.17 per cent, (2.58-2.74); First Guarantee Pension, 6.11 per cent, (3.10-3.29); OAK Pensions, 6.08 per cent, (2.42-2.57); AIICO Pension, 5.98 per cent, (2.87-3.04); Veritas Glanvills Pension, 5.81 per cent, (2.50-2.65); NLPC pension Fund Administrator, 5.70 per cent, (3.26-3.44); IEI-Anchor Pension Managers, 5.58 per cent, (2.21-2.33); APT Pension Fund Managers, 5.01 per cent, (2.66-2.79); Sigma Pensions, 4.96 per cent, (2.97-3.12); Leadway Pensure, 3.60 per cent,(2.96-3.07; NPF Pension Limited, details not available and Trustfund Pension Plc, not available.