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1 December 2021

PenCom rolls out 2020 industry report as PFAs post N136bn earnings, N54b profits

The National Pension Commission has continued to show transparency in its supervisory and regulatory roles as reflected by its activities reported in its annual report. Omobola Tolu-Kusimo writes. For the first time, the National Pension Commission (PenCom), revealed a three-year annual account of all operators under its supervision, including Pension Fund Administrators (PFAs), Closed Pension Fund Administrators (CPFAs) and Pension Fund Custodian (PFCs).

The National Pension Commission has continued to show transparency in its supervisory and regulatory roles as reflected by its activities reported in its annual report. Omobola Tolu-Kusimo writes. For the first time, the National Pension Commission (PenCom), revealed a three-year annual account of all operators under its supervision, including Pension Fund Administrators (PFAs), Closed Pension Fund Administrators (CPFAs) and Pension Fund Custodian (PFCs). Other disclosures in the report are PFAs Market Shares of RSA Funds with names of each PFA, pension portfolio among others.Analyses of the report by the newspaper showed that the PFAs; CPFAs and PFCs generated combined earnings of N136.45 billion in the financial year ended 31 December 2020. -The Nation page 24