The National Pensions Commission (PenCom) has announced the total number of retirement savings account (RSA) registrations per Pension Fund Administrator (PFA) for October to December 2022. They stated that the fourth quarter was a total of 69,889.
According to the Pensions Agency, the total RSA enrollment for the fourth quarter was 69,889.
According to the report, the top five PFAs registered 56.79% of total RSA customers in Contributory Pension Plans (CPS) from October 2022 to December.
The PFAs, Stanbic IBTC Pension, ARM Pension, Leadway Pensure, Sigma Pension and FCMB Pension registered a total of 39,693 out of the total 69,889. They took the lead within the period under review. Accordingly, PenCom also reported on retirement saving account (RSA) holders that transferred their RSA from one pension administrator (PFA) to another. Records show that 34,283 retirement saving account (RSA) holders initiated transfer from one Pension Fund Administrator (PFA) to another. They also moved about N131,785,628,655.76 during the period.
The commission also stated that the contributions received from the Micro Pension Contributors (MPC) per Pension Fund Administrator (PFA) in its 4th quarter 2022 report stood at N42,118,380. This brings total pension contributions received from inception of Micro Pension Plan in March 2019 to December 31, 2022 to N368,034,393.
Breakdown of the report showed that Stanbic IBTC Pension Managers Limited, ARM Pension Managers Limited and Premium Pension Managers Limited have the highest contributions collected within the period of October to December 2022 with N16,943,318, N11,611,148 and N3,006,300, respectively.
On the other hand, First Guarantee Pension Limited, Radix Pension Managers and Norrenberger Pensions recorded low contributions with N57,200, N36,000 and N34,340, respectively. Sigma Pension did not receive any contributions from their registered MPCs within the period of 4th quarter of 2022, the report noted.
A breakdown of micro pension contributions received since inception of Micro Pension Plan in March 2019 to December 31, 2022 showed that Stanbic IBTC Pension Managers Limited, ARM Pension Managers Limited and Fidelity Pension Managers Limited accounted for the largest amount with N160,278,159, N50,231 013 and N39,493 887 representing 43.55 percent, 13.65 percent and 10.73 percent, respectively, as at December 31, 2022.
cc: Independent Ng
