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NigeriaDecides2023

Money Counsellors releases the Money Counsellors Annual Report on Pensions (MCARP 2022)

MoneyCounsellors.com, a flagship independent research and information service on the Nigerian Mutual & Pension Industry, has released its maiden Money Counsellors Annual Report on Pensions (MCARP). The report presents a holistic review of the last five years of activities of all Pension Fund Administrators (PFAs), their audited corporate accounts, all 116 audited funds accounts with annual performances ranked against peers, asset allocation, returns volatility, ratios, Assets Under Management (AUM) ranking, Retirement Savings Account (RSA) holders ranking and much more. Nigeria has 9.79m Retirement Savings Account holders with N14.42 trillion (circa $34bn) of AUM.

The Report is a must read for all 9.8m RSA holders as well as those thinking of signing up to a PFA or switching a PFA.

The Nigerian pension industry since its rebirth in 2004 has accomplished noteworthy progress in many dimensions, top of which is the size in terms of the total funds under management of N14.42 trillion (≈$34bn) as at the end of September 2022 with about 9.79 million contributors. The significance of pension funds globally however goes beyond growth rates and sizes as the critical objective of consistently meeting the needs of contributors and retirees continues to be challenged on many fronts particularly economic instabilities. It is within this context that the Money Counsellors Annual Report on Pensions (MCARP) seeks to provide a number of industry-related information services as a form of stakeholders’ and general public enlightenment programme dedicated to the overall development of the industry and for the greater good.

As the primary objective, MCARP places a high premium on reporting on both the assurance and adequacy of the Nigerian pension scheme to the contributors and retirees on the one hand, and to other stakeholders – including policy makers – on the other, in terms of the social benefits that pension funds are known to help generate globally. Investment-wise, pension funds are widely acknowledged major drivers of economic growth and reporting on this significance represents part of the secondary objectives of MCARP.

In this very first and introductory edition however, the narrative has been kept strictly to basic publicly available five-year industry information presentation and reporting on the distinct types of products on offer by the regulated operators – the Pension Fund Administrators, aka PFAs. In collaboration with the industry regulator and operators, MCARP intends in the course of time, to enhance the overall pension industry narrative on Nigeria’s socio-economic development through the provision of independent and technical analyses of developing issues that support the enormous responsibilities of all operators in their fulfilment of the requirements of the enabling law and regulations.

With total commitment to professional ethics and global best practice standards, MCARP is well-positioned to deliver robust, top-notch data and information services on the Nigerian Pension Industry, toward its growth and most importantly for the scheme members’ satisfaction long into the future.

Commenting on the launch, Michael Oyebola the founder & CEO of Money Counsellors, said “we are really excited by the value propositions of MCARP and trusting that it delivers much more than our expectations through time to our entire audience. The report is free to all and can be downloaded https://bit.ly/MCARP2022

The report provides analysis on all audited PFA (the company) accounts, each of the 116 individual fund accounts managed by each respective PFA covering the 5 years to 31 December 2021 – the reporting period, rankings of Retirement Savings Accounts (RSA), rankings of Assets Under Management (AUM), a breakdown of Asset Allocation, rankings of the performance of each fund peer ranking of all annual performances of each of the funds against their peers as well as charts showing the volatility and risk measures of the returns generated by the funds.

The MoneyCounsellors.com platform is an independent research and information website that offers data and qualitative information about Nigerian Mutual and Pensions funds. The website offers several free services, including the ability to examine funds, research funds, compare funds, chart fund prices and fund returns, view summary accounts, download reports, and much more.

The website lists ALL Mutual funds and Pensions funds that are overseen and regulated by the Securities and Exchange Commission (SEC) and National Pension Commission (PenCom), respectively. We have additionally categorised all funds in accordance with the classifications in the published, publicly available information by each regulator, for ease of identification.

Our goal is to empower investors and savers with information to enable them to invest wisely;
add value to pension fund and mutual fund operators and the entire industry;
help deepen knowledge and understanding of pension and mutual funds;
be an information portal for aiding investor education and deepening the market; and
provide FREE information and analysis on pension funds and mutual funds to the public in one place.

We are committed to providing resources needed to research and monitor investments as well as bring disclosure, consistency, transparency, and accountability to the management of investment funds. For more visit moneycounsellors.com

MCARP 2022 can be downloaded free from https://bit.ly/MCARP2022