Nigeria’s pension fund asset gains N453.8 billion in Q1 2022 as 12,336 contributors switch PFAs

Nigeria’s pension fund assets increased by N453.8 billion in the first quarter of 2022 to stand at N13.88 trillion as of the end of March 2022, representing the highest level on record.

The industry’s assets under management increased by 3.38% in the review period from N13.4 billion as of December 2021.

Meanwhile, 12,336 PFA contributors transferred their RSA accounts from one PFA to another in the period under review. This is 4.2% lower than the 12,874 contributors who switched in the previous quarter. This brings the total number of transferred RSA accounts to 63,728 since Q4 2020.

This is according to data tracked by Nairalytics from reports released by the National Pension Commission (PenCom).

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