PFA assures RSA holders of better returns on investment

PENSION Fund Administrator ( PFA) has expressed its commitment to protecting the retirement savings account ( RSA) holder's funds and returns on investment in the industry. NLPC PFA made the assurance at a media briefing in Lagos, saying it would continue to leverage technology to achieve sustainable returns and improved service delivery to pension contributors. Speaking at the meeting the Managing Director/ Chief Executive Officer, Samuel Abolarin, said PFA was committed to securing a brighter future for workers by ensuring a steady stream of income at retirement through efficient and safe management of their pension savings, employing and motivating the right people using appropriate technology.

Abolarin said the company has assets under management ( AUM) worth over N470 billion as of June 2024 and that it is working to position itself for higher market share.

Abolarin said the company has three core principles – integrity, expertise and experience – emphasising that the company is one of the largest PFAS in Nigeria with a strong branch network.

“Our operational base is about 400,000 customers cut across the public and private sectors. On a good note, we have also recapitalised in line with the National Pension Commission ( Pencom) guidelines,” he said.

Also speaking on the investment of the PFA, the Acting Executive Director in charge of finance, Dipo Taiwo, said NLPC PFA keeps to regulation instructions on what investment pension managers should invest in the market such as the money market. Taiwo explained that the CPS offers a more resilient framework, where pension funds are managed prudently, invested wisely and insulated from the vagaries of political and economic instability.