Which PFA is the best in Nigeria?

The National Pension Commission (Pencom) has rated the Trustfund Pension Plc as the best performing pension fund administrator (PFA) in the country, as reflected in its fund price. The list, which was released in Abuja recently, showed TrustFund as having N1. 5787 per unit, as against the closest PFA which has 1.5455.

Which is the best pension fund?

4.Best Performing NPS Tier-I Returns 2021 – Scheme E

Pension Fund Managers Returns*
SBI Pension Fund 8.26% 9.73%
ICICI Pension Fund 9.56% 9.30%
Kotak Mahindra Pension Fund 9.30% 9.28%
Reliance Pension Fund 7.51% 9.15%

How many PFAs are in Nigeria?

Currently, there are twenty-two (22) PFAs in Nigeria with a total asset value in excess of N11 trillion as of date.

What is PFA in Nigeria?

A Pension Fund Administrator (PFA) is a company licensed by the National Pension Commission to manage and invest the pension funds in the employee’s Retirement Savings Account (RSA).

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What is the full meaning of Nlpc PFA?

NLPC Pension Fund Administrators Limited (NLPC PFA) is the home of tested, trusted and effective pension fund administration in Nigeria.

How can I get 50000 pension per month?

First take the case of immediate annuity: For a pension of Rs 50,000/month (or Rs 6 lakh/annum), you will have to invest around Rs 70 lakh at the age of 60 in the LIC plan. At the age of 50, you will need to invest at least Rs 80 lakh for Rs 50,000/month pension.

How much do I need to invest for 50000 a month?

50,000 monthly or an annual earning of Rs. 6 lakh by investing the amount in FD. Assuming that the average current Fixed Deposit rate of around 7 percent per annum would remain constant, to earn Rs 6 lakh annually, the lump sum amount needed to be invested comes around Rs. 85,71,500.

How many pension custodians are in Nigeria?

There are currently four (4) PFCs in Nigeria and ARM Pensions uses UBA Pensions Custodian Limited for its RSA Fund and Zenith Pension Custodian Limited for its Retiree Fund.

Who are the pension fund custodians in Nigeria?

Pension Fund Custodians

  • Access Pension Fund Custodian Limited. MANAGING DIRECTOR: MRS. IDU OKWUOSA. …
  • First Pension Custodian Nigeria Limited. MANAGING DIRECTOR: OLORUNTIMILEHIN GEORGE. 6 Maduike Street. …
  • UBA Pensions Custodian Limited. MANAGING DIRECTOR: BAYO YUSUF. …
  • Zenith Pensions Custodian Limited. MANAGING DIRECTOR: NKEM ONI-EGBOMA.

Can I change my PFA?

An employee or contributor has the freedom to move his account, once a year, from one PFA to another without giving any reason(s).

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What is the difference between PFA and PFC?

WHAT IS THE DIFFERENCE BETWEEN A PFA AND A PFC ? The PFA manages the pension funds through various investments in accordance with the investment guidelines by the PenCom while the PFC is the custodian of the pension funds assets and acts to the order of the PFA in line with regulations.

What’s the meaning of PFA?

PFA, an email abbreviation for “Please Find Attached” or “Please Find the Attachment”

How does the PFA pension work?

Background to the PFA

The PFA starts contributing once a professional contract is signed. The current contribution is £5,820 per annum and the pension is drawn in the same way as all existing pensions – 25% tax free cash and the remainder as an income via annuity or drawdown.

How can I borrow from my pension fund in Nigeria?

How to borrow from your pension fund in Nigeria

  1. Letter of termination of appointment issued by your former employer or letter of resignation.
  2. PFA last three months’ payslip.
  3. A letter from you requesting a desired percentage of payment from your RSA balance (25% maximum). …
  4. Evidence of accrued pension rights if applicable (mostly for public sector workers).

How can I check my pension online?

  1. Visit EPFO Website – www.epfindia.gov.in.
  2. Click on ‘Pensioners Portal’ ( left side of page under Online Services)
  3. On the next page – Welcome to Pensioners’ Portal – click on ‘Know your PPO No. ‘
  4. Here, you can enter your bank account number which is linked to pension.

3.02.2020

What is the meaning of RSA in pension?

A Retirement Savings Account (RSA) is a Defined Contribution Plan required under the Pensions Reform Act 2014. … The overall aim is to ensure that upon retirement, loss of job, invalidity or death, employees under the scheme would have access to some income through the various pension options.

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