The 21 Pension fund Administrators operating in Nigeria, between 2004 and 2017 generated a total of 7,592,157 contributors who contributed N6.6 trillion assets.
Also between April and June 2017, they generated a total of 97,713 Retirement Savings Accounts (RSA) holders who registered with them .
Out of this, 77,024 came from the private sector employers, 11,542 came from state government while 9,148 came from federal government.
From June 2004 when the Contributory Pension Scheme (CPS) commenced in Nigeria and June, 30th, 2017, the total number of RSA holders registered by the operators stood at 7,592,157 contributors.
A breakdown of this showed that 1,898,386 registered from federal government employees,1,537,436 registered from state government employees while 4,156,335 contributors registered from private sector, making the sector the leading sector in compliance with the Pension Reform Act 2014.
Disclosing this in his paper on pension biometrics, at the recent media retreat organised by the Pension Fund Operators Association of Nigeria ( PenOp) ,the Executive Director Operations, Crusader Sterling Pensions, Conrad Ifode said a breakdown of how each of the 21 pension fund operators have performed in terms of RSA registration showed that from inception of the scheme in 2004 to June 30th 2017, IBTC topped the list of the performance indicator by registering 1, 590,012 contributors followed by Trust Fund Pensions with 706,507 contributors. Sigma Pensions registered 670,405 contributors, ARM Pensions, 669,562 and Premium Pensions 612,743.
Others are Leadway Pensure with 526,803, Pension Alliance with 468,064, Legacy Pension 364,513,Crusader Pensions with
282,664 and NLPC Pensions with 265,148.
Also First Guarantee Pensions registered a total of 243,859 within the period, AIICO Pensions 213,580, OAK Pensions 182,829 contributors, NPF Pensions registered 161,796, Fidelity Pensions157,822,FUG Pensions 117,334 while APT pensions registered 114,598.
IEI-Anchor Pensions registered 108393 while AXA Mansard Pension registered 67,17, Investment One registered 62, 331 while IGI Pensions registered 5,339 contributors.
Also a review of their second quarter 2017 performance showed that IBTC pensions, registered 16,932 contributors, ARM registered 10,432, followed by Leadway Pensure which registered 9,207, Premium Pensions with 6,761, Sigma Pensions with 5,618, Pension Alliance with 5,498, Legacy Pensions with 5,439,Fidelity Pensions with 5,218,NLPC Pensions with 4,918, Trust Fund with 4,750
FIRST Guarantee Pensions with 4,338, Crusader Pension with 3,737 and
IEI -Anchor Pensions with 2,985.
Also FUG Pensions with 2,152, AIICO Pensions with and 2,109 APT Pensions with 1,738 contributors registered. AXA Mansard Pensions registered 1,666, NPF Pensions 1,352 while Investment Pensions registered 1,245 contributors.
Ifode reviewing the CPS operations in its 12 years of existence in Nigeria said in overall, the contributory pension scheme is working in accordance with how it was foreseen with an industry AUM of N6.5 Trillion
He said workers contributions are paid by their employers regularly, while exceptions are followed up by Recovery Agents.
” The PFAâ€™s comply with their legal obligations.
The contributors have their funds safe. After being in place for 12 years, no frauds have taken place nor has any PFA gone bankrupt”, he observed.