PFAs made over N340.57 Billion Total Income in 3 years

Pension Fund Administrators (PFAs) in Nigeria made over N340.57 Billion total income in three years. PFAs made about N121.90 billion in 2021, N111.43 billion in 2020 and N107.24 billion in 2019.

PFAs’ income is majorly from Fee income charged on the pension funds they administer. The fee income could be divided into asset based fees and Income based fees. The regulation from the National Pension Commission (PenCom) on Fee structure in the pension industry allows PFAs to charge a maximum of 1.5% fees on the assets under management for the Active funds and a maximum of 5% on the income made from investments of the retiree Funds.

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The Top 5 PFAs making the most income in the pension industry remained the same for the three years, the PFAs are Stanbic IBTC Pension, ARM Pension, Premium Pension, Nigeria Police Force PFA and Trustfund Pensions.

The Top 5 PFAs made 65.54% of the total income for all PFAs in 2019, 63.78% in 2020 and 66.36% in 2021. The remaining PFAs made 34.46% of the total income for all PFAs in 2019, 36.22% in 2020 and 33.64% in 2021.

Please see below Total income and Profit after Tax (PAT) per PFA for year 2021

Check here for 2020 and 2019 figures

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Also Check out
Performance of all PFAs in Nigeria for January to October 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


RSA Fund 1 Performance for 4 Years (Inception to 30 June 2022) for all PFAs in Nigeria
RSA Fund 2 Performance for 5&half Years (2017 to 30 June 2022) for all PFAs in Nigeria
RSA Fund 3 Performance for 4 Years (Inception to 30 June 2022) for all PFAs in Nigeria
RSA Fund 4 Performance for 5&half Years (2017 to 30 June 2022) for all PFAs in Nigeria

PenCom RSA Fund 1 (2018-19), Fund 2 (2016-19), Fund 3 (2018-19), & Fund 4 (2016-19) Performance for all PFAs in Nigeria
PenCom vs PensionNigeria Report on Return on Investment for all PFAs in Nigeria

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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