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PFAS
The National Pension Commission (PenCom) has unveiled a revised regulation that allows pension funds to gain exposure to gold through tradable Gold Receipts listed on Securities and Exchange Commission (SEC)-recognised exchanges.
The National Pension Commission (PenCom) has directed all Pension Fund Administrators (PFAs) and Pension Fund Custodians (PFCs) to report foreign currency pension contributions above $10,000 to the Nigeria Financial Intelligence Unit (NFIU) within 24 hours.
Pension Fund Administrators (PFAs) in Nigeria favoured fixed income investments over other asset classes in 2023 with a preponderance of funds channelled towards investments in the said category.
Nigerian pension industry has taken the reins of its own performance reporting with the release of PenOp's ‘Inaugural Performance Report’, titled ‘Uniform Performance Reporting.
Seventeen Pension Fund Administrators (PFAs) in Nigeria printed an average return of 2.81% in the month of January 2024, recording positive returns across the four retirement savings accounts tracked by Nairalytics, the research arm of Nairametrics.
NGX says its partnership with PenCom will strengthen the participation of PFAs in the equities market through the NGX Pension Broad Index.
In a significant stride toward enhancing transparency and accountability within the Nigerian pension fund industry, the National Pension Commission (PenCom) last week released a comprehensive circular outlining explicit requirements for performance measurement for Pension Fund Administrators (PFAs) and Closed Pension Fund Administrators (CPFAs).
As of December 2022, Nigeria's pension asset value experienced significant growth, increasing from N13.4 trillion in 2021 to N14.99 trillion, reflecting an 11.6% rise.
A total of 92,413 RSA pension contributors changed their pension fund administrators in 2022, representing a 90.2% increase from 2021
PFA’s portfolios remain skewed towards riskless FGN instruments and money market instruments which almost all earn negative real interest rates
PenCom has said that 93,114 RSAs was registered by Pension Fund Administrators (PFAs) in the first quarter (Q1) of 2022.
The company ranked among the best performing PFAs from inception to date.