Friday, January 27, 2023
No Result
View All Result
SUBSCRIBE
eNaira Online News
  • Home
  • eNaira
  • Capital Market
  • Business
  • Finance
  • Banking
  • PF
  • Companies
  • Crypto
  • Real Estates
  • Opinion
  • Home
  • eNaira
  • Capital Market
  • Business
  • Finance
  • Banking
  • PF
  • Companies
  • Crypto
  • Real Estates
  • Opinion
eNaira Online News
No Result
View All Result

Retirees must get higher returns after PFA recapitalisation – Expert

by e-Naira Online News
June 26, 2022
in Finance
Reading Time: 2 mins read
A A
0
Home Finance
Share on FacebookShare on Twitter



The Chairman/Chief Executive Officer, Achor Actuarial Services Limited, Dr Pius Apere, has said that it is important to give higher returns on investment to Retirement Savings Account holders to cushion the effect of inflation.

Apere, who is an actuarial scientist and chartered insurer, said this in a report titled, ‘Recapitalisation for PFAs and the welfare of Nigerian pensioners.’

He said, “As the regulatory capital base (shareholders fund) and Assets Under Management have increased to N5bn and N13tn as of April 2022 respectively, there is a need to revisit the investment returns and expenses allocation structure between the PFAs and RSA holders in order to ensure that the retirees’ expectations are met.

“In other words, a much higher percentage of the return on investment in pension assets must be allocated to RSA holders to cushion the effect of their retirement benefits being eroded by inflation.”

According to him, the greatest challenge facing retirees under the CPS after about 18 years of its introduction was not just receiving their benefits as and when due, but also their inability to have adequate retirement income to live decent lives at old age, which was not explicitly defined.

He said there was an urgent need to bridge the existing gap between the exponential growth in assets under management leading to huge dividend incomes being paid to shareholders of PFAs, and the poor economic well-being of the generality of RSA holders and inadequate retirement income for retirees under the CPS.

“The recapitalisation exercise would no doubt assist the PFAs and PenCom to meet Nigerian pensioners’ expectations, particularly by providing adequate retirement income to enable them to have a sustainable standard of living in retirement,” he said.

Apere further said that the regulatory recapitalisation of N5bn was expected to lead to stronger PFAs with improved capacity for more efficient service delivery.

He added that it was likely to create a level-playing field in the pension sector where all PFAs would have the necessary funds to deploy adequate technology and embark on the human capital development required to achieve efficient service delivery.

“Going forward, competition within the industry would mainly be based on efficient service delivery rather than capital,” he said.



Source link

Tags: ExpertHigherPFARecapitalisationretireesreturns
Previous Post

More troubles for households as landlords hike rents further –

Next Post

Optimising remote work in post-Covid-19 new normal: A work-life discourse

Related Posts

Finance

Real Estate Financing Firm Lists N20bn Sukuk On Stock Exchange

by e-Naira Online News
January 27, 2023
Finance

Rivers kidnapper bags death sentence for murder

by e-Naira Online News
January 27, 2023
Finance

Unlisted Securities Market Gets 0.34% Boost Thursday

by e-Naira Online News
January 27, 2023
Finance

Southeasterners paid highest for kerosine in Dec 2022 – NBS

by e-Naira Online News
January 27, 2023
Finance

New Naira notes not in circulation, CBN should extend Policy – NLC

by e-Naira Online News
January 27, 2023
Next Post

Optimising remote work in post-Covid-19 new normal: A work-life discourse

Anchor to drive insurance uptake with new scheme | The Guardian Nigeria News

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest

Access Holdings, International Breweries, others lose N51.7bn to investors’ apathy

January 27, 2023

FTX Lawyers Attempt to Question Bankman-Fried’s Family and Inner Circle for Financial Insight – Bitcoin News

January 27, 2023

Bourse sustains negative trend with market capitalisation down N52m – Businessamlive

January 27, 2023

Real Estate Financing Firm Lists N20bn Sukuk On Stock Exchange

January 27, 2023

Rivers kidnapper bags death sentence for murder

January 27, 2023

Financial steps you must take before you relocate abroad

January 27, 2023

The good, the bad, the ugly sides of Oyebanji’s 100 days in office

January 27, 2023

Lagos now closer to its smart city dream with 5G technology —Sanwo-olu

January 27, 2023

Get the free newsletter

eNaira Online News

Get the latest news and follow the coverage of eNaira, Business & Financial, Stock Market, Analysis, and more from the trusted sources.

CATEGORIES

  • Banking
  • Business
  • Capital Market
  • Companies
  • Crypto
  • eNaira
  • Finance
  • Opinion
  • Personal Finance
  • Real estate
  • Uncategorized
No Result
View All Result

GET THE FREE NEWSLETTER

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 e-Naira Online News.
e-Naira Online News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • eNaira
  • Capital Market
  • Business
  • Finance
  • Banking
  • PF
  • Companies
  • Crypto
  • Real Estates
  • Opinion

Copyright © 2022 e-Naira Online News.
e-Naira Online News is not responsible for the content of external sites.