National Pension Commission (PenCom) has released the contributions received from the Micro Pension Contributors (MPC) per Pension Fund Administrators (PFA) in its 4th quarter 2022 report.
According to PenCom, total Pension contributions received from MPCs in the fourth quarter of 2022 stands at N42,118,380. The amount brings total Pension contributions received from inception of Micro Pension Plan in March 2019 to 31st December 2022 to N368,034,393.
A breakdown of the report showed that Stanbic IBTC Pension Managers Limited collected highest within the period with a total of N16,943,328, representing 40.23 per cent of the contributions reported between October to December 31, 2022. ARM Pension Managers Limited followed with N11,611,148 , indicating 27.57 per cent of the amount collected while Premium Pension Managers Limited collected N3,006,300 or 7.14 per cent of the funds collected. The data showed that total amount collected by Oak Pensions Limited, Tangerine APT Pensions Ltd, FCMB Pension Ltd and Veritas Glanvills Pensions Ltd stood at N1,948,009, N1,603,898, N1494150 and N1390759 respectively.
On the other hand, First Guarantee Pension Limited, Radix Pension Managers and Norrenberger Pensions recorded lower contributions accounting for N57,200, N36,000 and N34,340 respectively. Sigma Pension did not receive any contributions from their registered MPCs within the period of fourth quarter of 2022.
A breakdown of micro pension contributions received since inception of Micro Pension Plan in March 2019 to 31st December 2022 showed that Stanbic IBTC Pension Managers Limited, ARM Pension Managers Limited and Fidelity Pension Managers Limited accounted for the largest amount with N160,278,159, N50,231 013 and N39,493 887 representing 43.55 percent, 13.65 percent and 10.73 percent respectively as at 31st December 2022.
