• Advertise
  • Opinion
  • Features & Interviews
  • Investigation
  • Contact
Monday, October 2, 2023
  • Login
No Result
View All Result
NEWSLETTER
The Lagos Today
  • Home
  • News
    • Lagos News
    • National News
    • World News
  • Entertainment⚡ by CRAWL
    • All
    • Art & Design
    • Books
    • Movie
    • Music
    • Sports
    Kenya, Uganda, and Tanzania named Joint Hosts of AFCON 2027 as Nigeria loses bid

    Kenya, Uganda, and Tanzania named Joint Hosts of AFCON 2027 as Nigeria loses bid

    ‘The Black Book’ becomes 1st Nollywood Movie to rank number 1 Globally on Netflix

    ‘The Black Book’ becomes 1st Nollywood Movie to rank number 1 Globally on Netflix

    I’m not involved in Mohbad’s Death, Naira Marley insists

    I’m not involved in Mohbad’s Death, Naira Marley insists

    Nigeria’s Sports Minister arrives Egypt to bid for hosting AFCON 2027

    Nigeria’s Sports Minister arrives Egypt to bid for hosting AFCON 2027

    Tears as Nigerian Singer, Mohbad, is laid to rest in Lagos

    Mohbad: Reps mourn Late Musician

    Adesanya faces Three Months in Jail over Drunk Driving in New Zealand

    Adesanya faces Three Months in Jail over Drunk Driving in New Zealand

    Nigeria wins 12 Gold Medals at 2023 ITTF African Para Championships 

    Nigeria wins 12 Gold Medals at 2023 ITTF African Para Championships 

    Tears as Nigerian Singer, Mohbad, is laid to rest in Lagos

    Mohbad’s Autopsy completed- Lagos Police

    Police exhumes Body of Mohbad for Autopsy

    Police exhumes Body of Mohbad for Autopsy

    Tears as Nigerian Singer, Mohbad, is laid to rest in Lagos

    Why we buried Mohbad quickly on his only land- Mohbad’s Father

  • Opinion
  • Business
  • Features & Interviews
  • Best Of Lagos
    Lagos welcomes The Art hotel: A flamboyant 5 star Business Boutique Hotel

    Lagos welcomes The Art hotel: A flamboyant 5 star Business Boutique Hotel

    THE LUXURY NETWORK NIGERIA ANNOUNCES NEW MEMBER, AFFINITY ART GALLERY

    THE LUXURY NETWORK NIGERIA ANNOUNCES NEW MEMBER, AFFINITY ART GALLERY

    THE LUXURY NETWORK NIGERIA HOSTS MEMBERS’ NETWORKING FORUM

    THE LUXURY NETWORK NIGERIA HOSTS MEMBERS’ NETWORKING FORUM

    Exploring Lagos’ Gastronomy With Chef Priyank Singh of Hard Rock Cafe

    Exploring Lagos’ Gastronomy With Chef Priyank Singh of Hard Rock Cafe

    Olu Oyinsan- Saying Yes To Founders At The Early Stage

    Olu Oyinsan- Saying Yes To Founders At The Early Stage

    A Rare Hobby: Sports Fishing In Lagos

    A Rare Hobby: Sports Fishing In Lagos

    Chef Nkesi- Experiencing Different Cultures Through Food

    Chef Nkesi- Experiencing Different Cultures Through Food

    Wumi Jubril: Creating Memorable Experiences

    Wumi Jubril: Creating Memorable Experiences

    Nordic hotel

    Nordic Hotel Makes Grand Debut in Lagos

  • Things To Do
  • Home
  • News
    • Lagos News
    • National News
    • World News
  • Entertainment⚡ by CRAWL
    • All
    • Art & Design
    • Books
    • Movie
    • Music
    • Sports
    Kenya, Uganda, and Tanzania named Joint Hosts of AFCON 2027 as Nigeria loses bid

    Kenya, Uganda, and Tanzania named Joint Hosts of AFCON 2027 as Nigeria loses bid

    ‘The Black Book’ becomes 1st Nollywood Movie to rank number 1 Globally on Netflix

    ‘The Black Book’ becomes 1st Nollywood Movie to rank number 1 Globally on Netflix

    I’m not involved in Mohbad’s Death, Naira Marley insists

    I’m not involved in Mohbad’s Death, Naira Marley insists

    Nigeria’s Sports Minister arrives Egypt to bid for hosting AFCON 2027

    Nigeria’s Sports Minister arrives Egypt to bid for hosting AFCON 2027

    Tears as Nigerian Singer, Mohbad, is laid to rest in Lagos

    Mohbad: Reps mourn Late Musician

    Adesanya faces Three Months in Jail over Drunk Driving in New Zealand

    Adesanya faces Three Months in Jail over Drunk Driving in New Zealand

    Nigeria wins 12 Gold Medals at 2023 ITTF African Para Championships 

    Nigeria wins 12 Gold Medals at 2023 ITTF African Para Championships 

    Tears as Nigerian Singer, Mohbad, is laid to rest in Lagos

    Mohbad’s Autopsy completed- Lagos Police

    Police exhumes Body of Mohbad for Autopsy

    Police exhumes Body of Mohbad for Autopsy

    Tears as Nigerian Singer, Mohbad, is laid to rest in Lagos

    Why we buried Mohbad quickly on his only land- Mohbad’s Father

  • Opinion
  • Business
  • Features & Interviews
  • Best Of Lagos
    Lagos welcomes The Art hotel: A flamboyant 5 star Business Boutique Hotel

    Lagos welcomes The Art hotel: A flamboyant 5 star Business Boutique Hotel

    THE LUXURY NETWORK NIGERIA ANNOUNCES NEW MEMBER, AFFINITY ART GALLERY

    THE LUXURY NETWORK NIGERIA ANNOUNCES NEW MEMBER, AFFINITY ART GALLERY

    THE LUXURY NETWORK NIGERIA HOSTS MEMBERS’ NETWORKING FORUM

    THE LUXURY NETWORK NIGERIA HOSTS MEMBERS’ NETWORKING FORUM

    Exploring Lagos’ Gastronomy With Chef Priyank Singh of Hard Rock Cafe

    Exploring Lagos’ Gastronomy With Chef Priyank Singh of Hard Rock Cafe

    Olu Oyinsan- Saying Yes To Founders At The Early Stage

    Olu Oyinsan- Saying Yes To Founders At The Early Stage

    A Rare Hobby: Sports Fishing In Lagos

    A Rare Hobby: Sports Fishing In Lagos

    Chef Nkesi- Experiencing Different Cultures Through Food

    Chef Nkesi- Experiencing Different Cultures Through Food

    Wumi Jubril: Creating Memorable Experiences

    Wumi Jubril: Creating Memorable Experiences

    Nordic hotel

    Nordic Hotel Makes Grand Debut in Lagos

  • Things To Do
No Result
View All Result
The Lagos Today
No Result
View All Result
Home Business

Only five PFAs control 56% of pension enrolment in Nigeria 

by Rosemary Opara
June 22, 2023
in Business, National
2 min read
0
0
Lagos Pays 8.7Bn To Retirees In Six Months
Share on FacebookShare on Twitter

Stanbic IBTC Pension Managers Limited, Access Pension Limited, ARM Pension Managers Limited, Trustfund Pensions Limited, and Premium Pension Limited are the pension fund administrators (PFAs) that account for 56 percent of pension enrolment, official data have shown.

Stanbic IBTC Pension led the pack with 2,015,150 retirement savings account (RSA) holders, equal to 20.3 percent of the 9.95 million registered contributors as of March 2023, according to the National Pension Commission (PenCom).

Access PFA had 1,064,906 or 10.7 percent of the total registrations, which some market watchers believe is being driven by its successful acquisitions of Sigma Pensions and majority stake in First Guarantee Pensions.

ARM Pensions Limited came third with 896,635 RSA holders or 9 percent of the total registered contributors.

Trust Fund Pensions Limited enrolled 4,300 participants in the first quarter of 2023, with its total enrolment hitting 801,675 or 8.1 percent of total RSA holders.

Premium Pension Limited came fifth with 778,874 RSA holders or 7.9 percent of the total registered contributors.

PenCom data showed that 83,654 new RSAs were registered and the associated PINs issued to employees in different sectors.

Analysis of the distribution of RSA registrations across PFAs in the first quarter revealed that Stanbic IBTC continued to maintain the largest market share of 28 percent with 23,586 new registrations. It was followed by Access Pensions Limited, which had 11 percent market share with 9,546 new registrations.

ARM Pension Managers (PFA) Limited, Leadway and Premium Pension Limited followed accounted for 9 percent, 8 percent, 7 percent respectively.

The five PFAs collectively held about 63 percent of the 53,353 RSAs registered in the quarter under review.

PenCom data revealed that total pension contributions remitted to individual RSAs in Q1 stood at N225.49 billion, with the public sector accounting for N124.70 billion or 55.30 percent, while the private sector contributed N100.79 billion or 44.70 percent.

The cumulative pension contributions from inception to the end of the first quarter of 2023 amounted to N8.70 trillion.

The total number of registered RSA holders was 9,945,537 as of March 2023, while total pension assets under management by the 19 PFAs stood at N15.583 trillion.

Follow us on social media
  • Facebook
  • Twitter
  • Instagram
Tags: NigeriaPensionPension enrolment
Previous Post

Lagos Now Fourth Worst City To Live In — Report

Next Post

Don’t impose higher taxes on gas, others, ICAN cautions FG

Rosemary Opara

Rosemary Opara

Related Posts

Fuel Subsidy is an Organised Crime – Peter Obi

Fuel Subsidy is an Organised Crime – Peter Obi

by Rosemary Opara
October 2, 2023
0

The Labour Party’s presidential candidate in the 2023 election, Peter Obi, has once again described fuel subsidy as an organised...

Electricity to improve in Nigeria as Tinubu signs Electricity Act 2023 into Law

FG, Labour Unions reach Six Resolutions, Strike uncertain 

by Idonosan Debe
October 2, 2023
0

The Minister of Information and National Orientation, Mallam Mohammed Idris on Sunday, October 1 disclosed the Federal Government and the...

Next Post
FG Says It Is Not Increasing VAT

Don't impose higher taxes on gas, others, ICAN cautions FG

Please login to join discussion

Recommended

MARS-V to Host Virtual Summit on Rape & Sexual Violence From the Religious Perspectives

MARS-V to Host Virtual Summit on Rape & Sexual Violence From the Religious Perspectives

3 years ago
Coronavirus: Belgium facing ‘tsunami’ of new infections

Coronavirus: Belgium facing ‘tsunami’ of new infections

3 years ago

Popular News

    Newsletter

    Connect with us

    Tags

    #EndSARS 2023 Elections 2023 polls 2023 Presidency ACCIDENT Africa All progressives Congress APC Asiwaju Bola Tinubu Babajide Sanwo-Olu Bitcoin CBN Central Bank of NIgeria Central Bank of Nigeria (CBN) China Coronavirus pandemic Covid-19 Covid-19 in Lagos Covid-19 in Nigeria Covid-19 Vaccine Cryptocurrency Drug Trafficking EFCC Federal Government Federal Government of Nigeria Fraud Godwin Emefiele Gov. Sanwo-Olu Insecurity Lagos-Ibadan expressway Lagos state Lagos State Government Lagos State House of Assembly Lagos State Police command Muhammadu Buhari Murder Murtala Muhammed International Airport Naira NDLEA New naira notes Nigeria Rape Strike action United states US

    News

    • Business
    • National
    • Politics
    • Tech

    Opinion

    • Editorials
    • Today’s Opinion
    • Letters
    • Sunday Review
    • Advertise
    • Opinion
    • Features & Interviews
    • Investigation
    • Contact

    © 2020 The Lagos Today - Nkali.

    No Result
    View All Result
    • Home
    • News
      • Lagos News
      • National News
      • World News
    • Entertainment
    • Opinion
    • Business
    • Features & Interviews
    • Best Of Lagos
    • Things To Do

    © 2020 The Lagos Today - Nkali.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Create New Account!

    Fill the forms bellow to register

    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In