Biggest PFAs by RSA Pension Fund Assets under Management & Fastest Growing PFAs in 2021

The National Pension Commission (PenCom) in its 2021 Annual Report released the breakdown of Pension Fund Administrators (PAFs) Retirement Savings Account (RSA) Pension Fund Assets under Management as at 31 December 2021.

The total assets under the Contributory Pension Scheme (CPS) as at 31 December 2021 was N13.42 trillion, out of which N10.51 Trillion is for Retirement Savings Accounts (RSAs) Fund I – IV managed by PFAs, while the remaining is for Fund V, VI, Existing Schemes and pension funds managed by Closed Pension Fund Administrators (CPFA).

The biggest PFA in Nigeria by Assets Under Management (AUM) is by far Stanbic IBTC Pension Managers Limited, holding 37.37% of the total RSA assets under management (AUM) in Nigeria as at 31 December 2021, a slight increase from the 37.12% as at 31 December 2020.

The next biggest PFAs by RSA AUM are, ARM Pension Managers Limited 8.72% (increase from 8.55% as at Dec 2020), Premium Pension Limited 7.27% (increase from 7.24% as at Dec 2020), Nigeria Police Force Pensions Limited 6.67% (decrease from 6.86% as at Dec 2020), and Trustfund Pensions Limited 6.07% (decrease from 6.22% as at Dec 2020). The percentages are based on the total RSA AUM in Nigeria as at 31 December 2021 and 31 December 2020 respectively.

The Top 5 PFAs by RSA AUM in Nigeria together hold 66.10% as at December 2021 (increase from 66.00% as at 31 Dec 2020), leaving just 33.90% for the remaining 17 PFAs, please note that there were 22 PFAs as at 31 December 2021. Two of the Top 5 biggest PFAs lost slight AUM percentages compared to the industry total but the small PFAs still have a long way to go to get any meaningful AUMs.

PFAs RSA Asset under Management as at 31 December 2021

We also checked the PFAs RSA AUM Year over Year percentage changes to determine the fastest growing PFAs by RSA AUM. We compared the PFAs RSA AUM as at 31 December 2021 and as at 31 December 2020 and we observed that the Top 5 fastest growing PFAs by RSA AUM for YoY 2021/2020 are NUPEMCO, Investment One Pension, Tangerine Pension, APT Pension and IEI Anchor Pension.

PFAs RSA Asset under Management Year over Year Percentage Increase/decrease 2021-2020

Checkout PensionNigeria breakdown of important aspects of the PenCom 2021 Annual Report

PenCom 2021 Annual Report Breakdown

Chairman’s Statement in PenCom 2021 Annual Report
Director General’s Report in PenCom 2021 Annual Report
Analysis of Pension Operating Environment for the Year 2021
Micro Pension Registrations per PFA as at Dec 2021 and Fastest Growing PFAs by Micro Pension Registrations
Update on the Micro Pension Plan for Year 2021
N93.49 Billion Pension Contributions not in Contributors Retirement Savings Account
Defaulting Employers pay Penalties of N10.03 billion into Employees RSA as PenCom takes 67 Employers to Court
Redacted Reports – Unfunded RSAs and RSAs with Incomplete Documentation
PTAD paid N99.94 billion to Federal Government Retirees in 2021
PenCom Stakeholder Engagement and Public Enlightenment Activities in 2021
Biggest PFAs by RSA Pension Fund Assets under Management & Fastest Growing PFAs in 2021
Update on Implementation of Minimum Pension Guarantee
PenCom provides Scanty Update on using RSA for Payment of Residential Mortgage
PenCom approved over N1.46 Trillion for PFAs to pay RSA Holders
PFAs made over N340.57 Billion Total Income in 3 years

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