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Pension Funds Investment Rise By 43.9%
The Pension Fund Administrators (PFAs) interest in corporate debt securities rose by 43.9 percent Year-on-Year (YoY) in August, 2022. The PFAs committed N1.380 trillion at the end of August 2022 as against N960.58 billion in the corresponding period in 2021. The breakdown shows that the N1.380 trillion invested in the corporate securities represented 9.59 percent…
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Over 48,000 Switched PFAs In 2021
A total of 48, 543 contributors switched pension fund administrators (PFAs) in 2021, valued at about N171.7 billion. The National Pension Commission said, in a bulletin published by the commission, in November 2020, it launched the RSA Transfer System (RTS), also known as Transfer Window, to record a total of 48,543 accounts in 2021. The…
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25,645 Workers Move N102.59bn To Other Operators
No fewer than 25,645 workers have transferred N102.59billion in their Retirement Savings Accounts to other Pension Fund Administrators. This move is coming after a displeasure with their Pension Fund Administrators operations. The National Pension Commission disclosed this in a presentation titled ‘Understanding the RSA transfer process’. According to the presentation, 2,799, 12,681 and 10,165 workers…