Performance of all PFAs in Nigeria for January to October 2025 (Year to Date)
The performance of all Pension Fund Administrators (PFAs) in Nigeria for January to October 2025 highlight a consistently positive return environment across the pension industry, with all fund categories delivering Green year-to-date gains despite varying performance across PFAs. The data provides a clear overview of how each PFA fund type has performed within the period, as well as the overall industry average, helping stakeholders assess market trends, compare fund categories, and better understand the broader investment landscape shaping retirement savings from January to October 2025 (Year to Date).
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Performance of NGX Pension Index and NGX Pension Broad Index
Before we go into the performance for Fund I, II, III and IV for all PFAs in Nigeria, lets have a quick look at the performance of the NGX Pension Index and NGX Pension Broad Index. We track the performance of NGX Pension Index and NGX Pension Broad Index for January to October 2025 and they both continue to be very impressive.
Year to Date Performance
NGX Pension Index 54.43%
NGX Pension Broad Index 57.38%
The NGX Pension Index tracks the performance of equity securities that meet the profitability and dividend payment criteria, i.e. companies that PFAs can invest in their shares, with the total capped at 40 stocks.
The NGX Pension Broad Index tracks the performance of equity securities that meet the profitability and dividend payment criteria, i.e. companies that PFAs can invest in their shares, with no limit or cap on the number of stocks that can be included.
Industry average Return on Investment (ROI) for January to October 2025
The industry average Return on Investment (ROI) per fund shows the average performance of all PFAs in Nigeria for Fund I, II, III and IV for January to October 2025.
- RSA Fund I Industry Average for 18 PFAs 24.82%
- RSA Fund II Industry Average for 18 PFAs 20.57%
- RSA Fund III Industry Average for 18 PFAs 16.49%
- Retiree Fund IV Industry Average for 18 PFAs 14.41%
PFAs based on average Return on Investment (ROI) per PFA
The table below shows all PFAs based on the average Return on Investment (ROI) for each PFA, for Fund 1, 2, 3 & 4, for January to October 2025. This is the best performance monitoring tool for each PFA based on ROI, because it shows each PFAs’ average performance for the four funds for the period under review.
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PFA Performance per Fund
Also below are the performance of all PFAs per fund for January to October 2025
RSA Fund 1 Return on Investment January to October 2025
Fund 1 is a special but optional Fund that Retirement Savings Account (RSA) holders who are below 50 years old can request to be moved to. It has the highest exposure to stock among the Funds under the Multifund structure, meaning that a higher percentage of Fund 1 is invested in buying shares of companies compared to other funds. If you have requested to be moved to Fund 1, you should pay particular attention to the performance of Fund 1 but also constantly have a look at the performance of Fund 2 to be sure you made a right choice moving to Fund 1.
RSA Fund 2 Return on Investment January to October 2025
Fund 2 is the default fund under the Multifund structure for RSA holders who are below 50 years old. Multifund structure gives these RSA holders the right to request to be moved to Fund 1 if they choose to. The maximum equity exposure for Fund 2 is 25%. If you are below 50 years old, you should pay particular attention to the performance of Fund 2 but you should also monitor the performance of Fund 1 to assist you in deciding whether to move to Fund 1 or not. Any RSA holder below 50 years old who has not requested specifically to be moved to Fund 1, will be in Fund 2.
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RSA Fund 3 Return on Investment January to October 2025
Fund 3 is the default Fund for RSA holders who are 50 years old and above but have not retired. Multifund structure gives PFAs the right to move these RSA holders who were in Fund 2 before the Multifund structure, to Fund 3, but the RSA holders can request to be moved back to Fund 2, if they choose to. Maximum Equity Exposure for Fund 3 is 10%. If you are 50 years & above and you have not requested to be moved back to Fund 2, then you will be in Fund 3. You should pay attention to the performance of Fund 3 and keep an eye on the performance of Fund 2 to enable you decide whether to move back to Fund 2.
Retiree Fund Return on Investment January to October 2025
Fund IV, this is the Retiree Fund. All RSA holders that have retired are automatically moved to Fund 4 and Retirees can not move to other Funds. Fund 4 has the lowest Equity Exposure of 5%.
Also Check out
Performance of all PFAs in Nigeria for January to October 2025
Performance of all PFAs in Nigeria for Full Year 2024
Performance of all PFAs in Nigeria for Full Year 2023
Performance of all PFAs in Nigeria for Full Year 2022
Performance of all PFAs in Nigeria for Full Year 2021
Performance of all PFAs in Nigeria for Full Year 2020
Performance of all PFAs in Nigeria for Full Year 2019
Performance of all PFAs in Nigeria for Full Year 2018
Six Years Performance for all PFAs in Nigeria (2019-2024)
Do you want to know more about the MultiFund Structure, check out our MultiFund Structure Executive Summary here
PensionNigeria monitors the performance of Fund I, II, III, IV & V, for all PFAs in Nigeria Check them out here
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