Trust Fund Pensions Co., Ltd.is a Licensed Pension Fund Administrator (PFA) under the provisions of the Pension Reform Act 2014 and is an organization born out of the former NSITF.
Its ownership structure reflects representation of Nigerian workers’ organizations such as the NLC and TUC, employers represented by NECA, and the private sector through Chapel Hill Denham.
As of December 31, 2022, the Trust Fund Pension boasts shareholder funds of 18.1 billion Nebula.
According to data collated from Pencom’s 2022 Periodic Report, the Trust Fund Pension ended the 2022 fiscal year with 797,444 RSA holders in the six publicly available RSA funds, and 797,444 RSA holders in 2021. It shows that the number of RSA carriers increased by 23,003 from 777,441.
In addition, assets under management in five publicly announced retirement savings accounts (RSA) reached N702.55 billion, up 10.42% from N636.27 billion in 2021.
Performance Analysis: Company
The company’s total revenue for the year ended 31 December 2022 increased by 12.25% to N9.22 billion from N8.21 billion in 2021.
Business administration costs increased by 10.53% and the cost return ratio was 63.24%, down slightly from 64.22% in 2021. This his five-year average is 67.85%.
Profit after tax (PAT) in 2022 increased by 9.62% to N2.33 billion compared to N2.13 billion in 2021.
During the previous regulatory recapitalization, the Trust Fund Pension did not require a recapitalization, but shareholder funds increased from N13.57 billion in 2021 to N18.1 billion in 2022.
Performance Highlights: RSA Funds (Audited)
For the past six years, Trust Fund Pensions has not included the NAV per unit in each fund summary account published on the website, in accordance with Pencom’s guidelines.
Because of this, we are constrained from using our respective funds. not audited NAV per unit as of December 31, 2022 is obtained from the company’s website.
For the year ended December 31, 2022, using unaudited figures, the value of Trust Fund Pension Fund I was 8.58%, Fund II 8.93%, Fund III 9.19%, Fund IV 10.47%, Fund V increased by 7.12%. Trustfund Pensions offers Fund VI β Interest Free (Active) and publishes daily prices.
However, there are no audited accounts available for the period 31 December 2022. Trust Fund Pension currently publishes daily prices for six PenCom-approved funds (Funds I, II, III, IV, V, and IV Interest Free (Active)).
Pension fund earnings benchmarks have not yet been established, but indirect comparisons for 2022 show the NGX All Shares Index (a measure of stock market performance) at 19.98%, the NGX Pension Index at 16.96%, and inflation rising. Did. ended the year at 21.47% and MPR at 16.50%, rising steadily throughout the year.
Trust Fund Pension Fund I emphasizes that:
- Fund performance: 8.58% increase in 2022, higher than 5.69% in 2021 but lower than 14.63% in 2020. His five-year average for the fund is 9.38% for him. The fund was established in January 2018.
- Fund income: N.53 million in 2022, an increase of 38.56% from the previous year N.210.42 million in 2021.
- Net income from investment activities: N.14 million in 2022 and 58.86% in 2021.
- Fund size: Fund size as measured by net assets decreased by 6.31%. N.from 598 billion N.2,773 million. Net membership activity (inflow/outflow) has been negative for two consecutive years.
- Fund expenditure rate: 2.29% in 2022, down slightly from 2.32%.
- Performance Rankings: The fund did not rank in our rankings. 2022 report Because there is no NAV per audited unit for the relevant fiscal year.
Highlights of Trust Fund Pension Fund II:
- Fund performance: increased by 8.93% in 2022 compared to 9.02% in 2021.
- Fund income: N.7.98% increase in 2022, N.33.41 billion in 2021.
- Net income from investment activities: N.$82 billion in 2022, up 7.43% year-on-year N.27.76 billion.
- Fund size: Fund II increased by 7.80%, N.16 billion. Along with his double-digit figures of 10.02% (2021), 19.07% (2020) and 12.34% (2019) over the past three years, growth continues to slow.
- Fund expenditure rate: 1.73% in 2022, up slightly from the 2021 figure of 1.69%. This meant that the fund was costly to manage. The five-year average is 1.99%.
- Performance Rankings: The fund did not rank in our rankings. 2022 report Because there is no NAV per audited unit for the relevant fiscal year.
Highlights of Trust Fund Pension Fund III:
- Fund performance: increased by 9.19% in 2022 compared to 8.86% in 2021.
- Fund income: N.$21 billion in 2022, up 15.37% year-on-year N.20.98 billion in 2021.
- Net income from investment activities: N.$36 billion in 2022, up 15.43% year-on-year N.17.64 billion in 2021.
- Fund size: Fund III increased by 14.58%, N.from 40 billion N.215.05 billion in 2021.
- Fund Expenditure Rate: 1.56% in 2022 and 1.56% in 2021 as well.
- Performance Rankings: The fund did not rank in our rankings. 2022 report Because there is no NAV per audited unit for the relevant fiscal year.
Highlights of Trust Fund Pension Fund IV:
- Fund performance: increased by 10.47% in 2022 compared to 9.38% in 2021. This fund performed the best among all trust fund pension funds.
- Fund income: N.$48 billion in 2022, up 19.45% year-on-year N.7.94 billion in 2021.
- Net income from investment activities: N.$70 billion in 2022, up 19.59% year-on-year N.7.27 billion.
- Fund size: Fund IV increased by 10.72%, N.37 billion. Although the fund’s size continues to grow, its growth rate has continued to decline over the past four years and is the lowest in five years.
- Endowment expenditure rate: Rising from 0.79% in 2021 to 0.84% ββin 2022, halting the decline over the past four years. The lower the value, the more RSA holders can secure a fund return.
- Performance Rankings: The fund did not rank in our rankings. 2022 report Because there is no NAV per audited unit for the relevant fiscal year.
Highlights of Trust Fund Pension Fund V:
- Registered fund V RSA holders: increased from 4,500 in 2021 to 4,982 in 2022. The total number of micro-pension RSA holders in 2022 was 89,327, giving trust fund pensions a market share of 5.58%.
- Total assets of the fund: N.82 million in 2022, an increase of 11.06% from the previous year N.12.44 million in 2021.
- Fund income: N.31 million by 2022, N.1.04 million in 2021.
- Net income from investment activities: N.5 million by 2022, more than before N.840,000 in 2021.
- Fund performance: 7.12% in 2022.
- Performance Rankings: The fund did not rank in our rankings. 2022 report Because there is no NAV per audited unit for the relevant fiscal year.
Trust Fund Pension Fund VI β Interest Free (Active):
- There are no audited accounts for 2022.
Stay tuned for the 2023 report with full 2022 fund ranking details from the Money Counselors Annual Report 2023 (MCARP 2023). Download the 2022 report here.
For more information and analysis, please visit: Money Counselors.com
The 2023 annual report on all pensions will be published soon. Check out our 2022 report. of Money Counselors Annual Report (MCARP 2022) Get a complete analysis of all pension fund administrators (PFAs) in one document.
The report provides a five-year overview of all PFAs and managed funds, including a five-year summary of company and fund accounts, ratios, fund performance, fund performance rankings relative to peers, asset allocation, and AUM. Shows a comprehensive review of the activity. Rankings, RSA Rankings, and more.
The data and information we provide are based on public data, our regulatory information activities, archives and other public sources such as fund managers, FMANs, pension fund administrators (PFAs) and PenOp.
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