By PETER EGWUATU
Pension Fund Administrators (PFAs) have recorded a profit of N140.19bn from trading with funds in the Retirement Savings Accounts (RSA) of contributors under the Contributory Pension Scheme in the last two years, according to information obtained from National Pension Commission.
According to PenCom’s latest annual financial figures, the PFAs made returns of N53.42bn and N86.77bn in 2010 and 2011, respectively.
A breakdown of the figures showed that interest from investment income was N50.8bn in 2010 and N83.4bn in 2011, while dividends were N2.62bn and N3.37bn, respectively.
“Interest/coupons received during the year was N83.40bn in 2011, which was 60 per cent higher than the N50.8bn received in 2010.
“This resulted primarily from the relatively higher yields on fixed income securities, especially FGN securities. The dividends received on investment in ordinary shares amounted to N3.37bn in 2011, while dividends received in 2010 were N2.62bn.”