By David Akinmola
Nigeria’s pension industry capped June with another month of resilient returns, reinforcing steady growth across all four Retirement Savings Account (RSA) fund portfolios. Early data from the Nigeria Pension Commission (PenCom) and market trackers show every Pension Fund Administrator (PFA) delivered positive returns, building on the momentum seen in May.
Strongest Gains in RSA Fund I
RSA Fund I, the most growth-oriented vehicle, recorded an average return of around 2.5% in June, up from May’s 2.42% Leading the pack:
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OAK Pensions Limited remained top for the second consecutive month, delivering an impressive 3.9% return.
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Pensions Alliance Limited closely followed at 3.6%, with Trustfund Pensions Plc securing third at 3.5%
Mid‑Risk Leaders in Fund II
The balanced RSA Fund II category maintained its steady trend, with average returns hovering just above 2.0%, slightly improving upon May’s 1.97%
FCMB Pensions Limited at 2.7%
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Access ARM around 2.4%
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Stanbic IBTC near 2.3%
Senior-Focused Fund III
RSA Fund III—designed for contributors aged 50–60—posted a return in the 1.6–2.2% range. Top performers:
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Guaranty Trust Pension Managers (GTB) led with around 2.2%
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FCMB followed at 2.0%
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Norrenberger Pensions at approximately 1.9%
Conservative Fund IV
RSA Fund IV, intended for retirees, remained modest with returns near 1.4–1.6%. Key PFAs:
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Nigeria Police Force Pensions Ltd led with 1.6%
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Trustfund and Access ARM closely trailed with 1.5%
Industry Snapshot
| RSA Fund | June Average Return | Leading PFAs | Comments |
|---|---|---|---|
| Fund I | ~2.5% | OAK, PAL, Trustfund | High returns, equity weighting |
| Fund II | ~2.0% | FCMB, ARM, Stanbic | Balanced portfolios strong |
| Fund III | 1.6–2.2% | GTB, FCMB, Norrenberger | Moderate risk, solid outcome |
| Fund IV | 1.4–1.6% | NPF Police, Trustfund, ARM | Conservative play, stable |
PenCom reports total RSA accounts reached 10.7 million by end-May, with total pension assets at ₦23.3 trillion FGN securities continue to make up over 62% of the portfolios, complemented by corporate bonds, equities, and money market instruments.
Analysis & Outlook
June’s data solidifies a pattern of robust, positive returns across the board, demonstrating PFAs’ adeptness at navigating macroeconomic pressures like fluctuating yields and variable interest rates. OAK Pensions continues to shine in growth funds, while FCMB and GTB exhibit consistency in balanced and senior-focused portfolios, respectively.
Following Q1’s strong performance—where Pensions Alliance (PAL) posted a 5.25% average ROI June confirms that Nigeria’s pension system remains both resilient and favorable for long-term savers.
Investor note: Past performance does not guarantee future results, and returns may fluctuate based on market forces. Contributors are urged to monitor monthly PFA reports and align their RSA portfolio choice with their risk tolerance.
Final Word
Nigeria’s pension PFAs wrapped up June with commendable performance across all fund categories. OAK Pensions led equity-linked returns, FCMB dominated balanced funds, GTB secured Fund III success, and Nigeria Police Force Pensions held strong in the conservative category. With RSA assets nearing ₦24 trillion and growing participation, contributors continue to benefit from a stable and steadily maturing pension landscape.
