PenCom out with April ranking for PFAs

PenCom office

 By Clarkson Eberu
The National Pension Commission (PenCom) has released its April rating for Pension Fund
Administrators (PFAs) based on Return on Investment (ROI) for the period under review.
According to the document obtained from the agency’s official website, Investment One Pensions Managers Limited came tops recording 6.21 per cent in Retiree Fund IV price from its March 31, 2020 tally of 2.4190 to 2.5691 at April 30, 2020.
A further breakdown shows that APT Fund Managers Limited (3.46%); Fidelity Pension Managers (3.04%); IEI-Anchor Pensions Managers (2.02%), and NPF Pensions Limited (1.94%) came second, third, fourth and fifth.
Others which made the top 10 list included ARM Pensions Managers (1.89%); AIICO Pension Managers (1.79%) and Leadway Pensure PFA (1.72%).
The rests are Veritas Granville Pensions (1.72%) and Premium Pension Limited (1.63%).
The main functions of the PFAs are to open Retirement Savings Account’s (RSAs) for employees; invest and manage pension fund assets; pay retirement benefits and account for all transactions relating to the pension funds under their management.