Resilient Growth in Nigeria’s Pension Sector Amid Market Volatility
Nigeria’s pension fund industry demonstrated commendable resilience in April 2025, delivering steady positive returns across all Retirement Savings Account (RSA) fund categories despite prevailing macroeconomic uncertainties.
According to data from Nairalytics, the research division of Nairametrics, the average return across all RSA funds stood at 1.28%, with every fund category recording growth. RSA Fund I, tailored for aggressive investors, led the overall performance with a 1.39% average return.
Top Performing Pension Fund Administrators April 2025
Tangerine Apt Pensions secured the top spot with an impressive 1.83% average return, driven by a remarkable 3.45% return in RSA Fund I.
Crusader Sterling Pensions followed with a strong 1.76%, buoyed by high returns in RSA Fund II and III.
Pensions Alliance Limited came third, maintaining a solid 1.44% average return across funds.
Other notable performers included:
Pension Fund Administrators Ltd. – 1.15%
OAK Pensions Ltd. – 1.11%
Note: ARM Pension Managers, Guaranty Trust Pensions, and Veritas Glanvills were excluded due to data inconsistencies.
RSA Fund Performance Breakdown (April 2025)
RSA Fund I (Aggressive Investors)
Average Return: 1.39%
Top PFAs:
Tangerine Apt – 3.45%
FCMB Pensions – 1.67%
Stanbic IBTC – 1.61%
RSA Fund II (Contributors under 50)
Average Return: 1.34%
Top PFAs:
Crusader Sterling – 1.91%
Norrenberger – 1.88%
Pensions Alliance – 1.68%
RSA Fund III (Aged 50-60)
Average Return: 1.22%
Top PFAs:
Crusader Sterling – 1.86%
Pensions Alliance – 1.58%
Leadway Pensure – 1.44%
RSA Fund IV (Retirees)
Average Return: 1.18%
Top PFAs:
Crusader Sterling – 1.65%
OAK Pensions – 1.31%
Pensions Alliance – 1.29%
Pension Industry Overview & Assets Snapshot
As of February 2025, pension fund assets reached ₦23.27 trillion, marking a 1.77% increase from January. The asset composition remains dominated by:
FGN Securities: ₦14.47 trillion (62.18%)
Corporate Debt: 10.01%
Money Market Instruments: 9.51%
Equities: ₦2.58 trillion (11.10%)
Mutual Funds: ₦84.76 billion (0.36%)
RSA Registrations also grew, reaching 10.65 million, a 3.82% year-on-year increase. RSA Fund II remained the largest by Net Asset Value at ₦9.62 trillion, representing 41.33% of total assets.
In Conclusion
Despite a challenging economic environment, Nigeria’s pension fund administrators delivered consistent value to contributors in April 2025. Tangerine Apt, Crusader Sterling, and Pensions Alliance stood out for their strategic asset management and above-average returns. As RSA registrations and fund values continue to grow, the future of the Nigerian pension landscape appears robust and sustainable.
Credit: Nairametrics News
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