Pension

Top PFAs with high return on investment

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Chuks Udo Okonta

As the Retirement Savings Account Transfer System (RTS), commenced today, the National Pension Commission (PenCom) has published Pension Fund Administrators (PFAs) performance record which would help guide contributors and retirees in making informed decision before moving from their present fund manager to another.

According to the record published by PenCom, APT Pension Limited has the highest Rate Of Return (ROR) of 19.60 in 2019 with three years rolling average Return On Investment for Fund ll, 2017-2019 average of 15.28 per cent.

Fund ll, is for active contributors who are below 50 years of age.

The PFA has a return on investment for Fund IV, which is for retirees, was 14.52 per cent, while rete of return was 16.03.

AIICO Pension Managers took the second position with Rate Of Return (ROR) of 16.45 in 2019 with three years rolling average Return On Investment for Fund ll, 2017-2019 average of 14.72 per cent.

The firm’s return on investment for Fund IV, which is for retirees, was 16.42 per cent, while rete of return was 15.03.

NPF Pension Managers, has Fund II ROR of 12.70; ROI, 11.88 per cent; Fund IV, ROR, 14.26 and ROI, 16.93 per cent.

Sigma Pension has ROR 10.78 and 10.57 ROI and Radix Pension has 7.66 ROR and 10.57 ROI.

According to the pioneer Director-General, PenCom, Muhammad Kabir Ahmad, the launch of Retirement Savings Account Transfer System, by PenCom, is expected to trigger competition among pension operators.

The expected competition would arise as pension contributors and retirees would seek to align with PFAs with good rate of return, robust return on investment and first class service delivery.

Ahmad had urged operators not to compete on market share but on how to grow the pension sector.

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