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Stanbic, NPF, ARM Attract Most Pension Registrations in Q3, 2022

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Analysis of the distribution of RSA registrations across Pension Fund Administrators (PFAs) in the third quarter 2022, revealed that Stanbic IBTC continued to maintain the largest market share of 22% with 19,447 new registrations, followed by NPF which had 11% market share with 9,795 new registrations.

ARM, Leadway, and Sigma PFAs followed with 10%, 8%, 6% market share respectively.

A total of 86,861 new RSAs were registered and the associated PINs issued to employees in different sectors, in the quarter ended 30 September 2022 and 9,792,486 from inception.

Consequently, the five (5) PFAs collectively held about 56.9% of the 86,861 RSAs registered in the quarter under review.

The analysis of new registrations into the CPS by age and gender within the quarter showed that out of a total of 86,861 registrations, about 86% or 74,370 of them were below 40 years of age.

Out of this number, 44,822 or 52% were below 30 years of age.

This points to the increasing sustainability of the CPS, as the younger generation are actively being enlisted into the scheme.

The total pension contributions remitted to individual RSAs in Q3 2022 stood at ₦223.82 billion.

Out of this total, the public sector accounted for ₦120.62 billion or 53.89%, while the private sector contributed ₦103.20 billion or 46.11%.

The cumulative pension contributions from inception to the end of the third quarter of 2022 amounted to N8.24 trillion, which is an increase from N8.01 trillion as at the end of Q2 2022.

Pension Fund Assets were mainly invested in Federal Government Securities (FGN), which accounted for 63.73% of total assets.

The composition of investments in FGN Securities were as follows: FGN Bonds: 95.78%; Treasury Bills: 2.02%; and Agency Bonds, Sukuk and Green Bonds accounting for 2.20%.

The value of investments in quoted ordinary shares (domestic and foreign) stood at N964.87 Billion (6.68% of total assets under management) indicating a net decrease of N104.19 billion (9.75%) compared to N1.07 Trillion as at 30 June, 2022.

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