PFA boosts investment assets with N674 billion
A pension fund administrator (PFA), Premium Pension Limited, said its assets under management (AUM) grew to N674.30 billion last year, from N625.16 billion in 2019.
The chairman, Board of Directors, Ibrahim Babayo, said this during the company’s 16th yearly general meeting.
Babayo stated that the number of retirement savings accounts (RSAs) registered in both the public and private sector organisations as well as micro pension as of December 31, 2020, rose to 730,146 in the period.
Babayo said: “The long-awaited transfer window was officially launched on November 16, 2020, shifting power to the contributors as they now have the opportunity to switch from one PFA to another.”
According to him, the opportunities to move when dissatisfied have an implication on assets under management. He said the organisation was a net gainer during the maiden transfer window quarter.
Despite the volatile economic environment, the company recommended a final dividend of N1.25 per share, bringing the total dividend payment within the year to N2.25 per share.
The Managing Director, Umar Sanda Mairami, who also spoke at the event expressed appreciation to the board for their untiring support towards uplifting the performance of the organisation.
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