Premium, ARM, Stanbic Pensions lead in returns, unit price on active contributors’ fund

Premium Pension Limited, ARM Pension Limited and Stanbic IBTC Pension have continued to show leadership in the country’s Contributory Pension Scheme (CPS) in terms of returns to contributors as well as in unit price of active contributors called Retirement Savings Account (RSA) Fund 11.

RSA Fund II is also called default fund for all Active Contributors who are below 50 years of age.

Analysis of performance of the Pension Fund Administrators(PFAs) from data obtained in the industry show that Premium Pension’s cumulative returns since inception was 433.75 percent, above industry average of top eight PFAs of 368.45 percent; while the unit price as at year end 2020 was 5,3375.

ARM came second with 404.06 percent cumulative returns since inception, also above average of 368.45 percent and unit price of 5.0406 at the end of 2020, while Stanbic came third with 392.42 percent and 4.9242 unit price.

Other PFAs according order of performance includes FCMB Pension, PAL pension, TRUSTFUND pension, Leadway Pension and Sigma Pension.

Related News

On the RSA Fund IV, that is retiree fund, Stanbic IBTC Pension, ARM Pension and PAL Pension led in retiree fund otherwise called RSA Fund IV. RSA FUND IV is also called Fund for Retirees only. That is people who are already retired and collecting their pension from the PFAs on monthly basis.

Stanbic Pension is leading with 374.09 percent cumulative returns since inception with a unit price of 4.7409, followed by ARM Pension with 323.49 percent cumulative returns and unit price 4.2349, while PAL Pension came third with 295.51 percent cumulative returns and unit price of 3.9551.

Other PFA on order of performance in Fund IV, that is retiree fund includes Leadway Pension, Premium Pension, FCMB Pension, SIGMA Pension and TRUSTFUND Pension.

The objectives of the CPS is to ensure that every person who worked in either the public Service of the Federation, Federal Capital Territory, States and Local government or the Private Sector receives his retirement benefits as and when due; and to assist improvident individuals by ensuring that they save in order to cater for their livelihood during old age.

Modestus Anaesoronye

Modestus Anaesoronye is a leading Nigerian financial journalist with over two decades of experience reporting on the insurance and pension sectors across Nigeria and West Africa. He has held key editorial positions at major national media outlets, including The Comet, The Nation, and Financial Standard, and currently serves as a Senior Financial Analyst at BusinessDay Media Ltd. A widely travelled reporter, he has covered industry developments in more than 14 countries across Africa and Asia. Anaesoronye is a multiple award-winning journalist, honoured several times as Insurance Journalist of the Year and Pension Journalist of the Year by recognised industry bodies, including PensionScope and the Pension Fund Operators Association of Nigeria (PenOp), among others.