Best performing Pension Funds in Nigeria in 2024

For the key economic indicators, inflation (Dec ’24) stood at 34.80%, reflecting the ongoing economic pressures, the Monetary Policy Rate (MPR) closed the year at 27.50%, whilst a 1-Year Treasury Bill offered a closing yield of 28.20%.

The 5-year FGN Bond (2029) and 10-year FGN Bond (2034) provided yields of 21.19% and 18.10%, respectively.

Amidst it all, the year saw significant performance across various indices and financial instruments, while on average, pension funds maintained steady growth, providing steady, reliable returns for investors (see below for individual fund type performance and ranking).

Fund I (Aggressive Growth Fund)

Fund I’s, known for its supposed high-risk, high-return profile, showed varied performances across different PFAs in 2024. Below is an analysis of the unaudited returns for 2024

The average return for Fund I’s across all PFAs stood at 17.78%, as highlighted in the chart below. This provides a benchmark for contributors to assess their PFA’s performance relative to the market. Notably, many PFAs clustered around the average, showcasing stable results

While the majority of PFAs delivered solid results, a few fell significantly below the average:

For contributors in Fund I, the stark differences in performance highlight the importance of carefully selecting a PFA that aligns with your financial goals and risk tolerance. High performers like NPF Pensions and Access ARM Pensions provide excellent opportunities for significant growth, while lower performers may require re-evaluation of their strategies moving forward.

The 2024 performances across Fund I underscore the diverse outcomes of risk-taking in pension fund management. As contributors, staying informed and proactive in monitoring your PFA’s performance is crucial to securing long-term financial stability. With us now in 2025, all eyes are on how PFAs adapt their strategies to navigate new market challenges and opportunities.

Fund II’s demonstrated strong performance across various PFAs for the full year 2024. The returns, as of December 31, 2024, show a wide range of performances, with the highest return being 31.56% and the lowest at 12.12%. The average return across all PFAs stood at 17.22%.

Conclusion:
The collection of Fund II has shown a diverse performance spectrum in 2024, with several PFAs delivering exceptional returns. NPF Pensions stood out as the top performer, while NLPC Pension lagged behind. The average return of 17.22% indicates a generally positive year for the funds, though there is room for improvement among the lower-performing PFAs.

For 2024, Fund III delivered a mixed performance across PFAs.

Conclusion:
Fund III’s 2024 results highlight both high achievers and areas needing attention. Investors should consider these performances when evaluating their options, keeping in mind the diverse outcomes across PFAs.

Fund IVs also concluded the year 2024 with a range of performances across PFAs.  Returns, as of December 31, 2024, showed a moderate performance spectrum, with the highest return being 18.05% and the lowest at 10.69%. The average return across all PFAs stands at 13.93%.

Conclusion:
Fund IV’s 2024 performances reflect a generally steady year, with a few PFAs achieving notable success. While NPF Pensions led the way, the overall average suggests a balanced performance across the board. Investors should consider these results when assessing their investment choices, keeping in mind the varying outcomes across different administrators.

Fund V concluded the year 2024 with a diverse range of performances across PFAs who offered the fund. The returns, as of December 31, 2024, show a broad spectrum, with the highest return being 21.66% and the lowest at 6.23%. The average return across all PFAs stands at 16.58%.

Fund V’s 2024 performance reflects a mix of high achievers and underperformers. While Access ARM Pensions and Trustfund Pensions led the way, the overall average suggests a generally positive year for the funds. Investors should consider these results when making investment decisions, keeping in mind the varying outcomes across different administrators.

Performance Report: RSA Pension Fund VI – Non-Interest (Active) Fund – Full Year 2024 (Unaudited)

The Fund VI – (Non-interest active fund), concluded 2024 with a range of performances across PFAs. Returns, as of December 31, 2024, showed a broad spectrum, with the highest return being 20.63% and the lowest at 7.40%. The average return across all PFAs stood at 16.25%.

Fund VI – Non-Interest (Active) 2024 performances reflect a mix of high achievers and underperformers. While CrusaderSterling Pensions and Trustfund Pensions led the way, the overall average suggests a generally positive year for the funds. Investors should consider these results when making investment decisions, keeping in mind the varying outcomes across different administrators.

Performance Report: RSA Pension Fund VI – Non-Interest (Retiree) – Full Year 2024 (Unaudited)

Fund VI – Non-Interest (Retiree), a non-interest fund tailored for retirees, concluded 2024 with a range of performances across PFAs. Returns, as of December 31, 2024, show a moderate performance spectrum, with the highest return being 18.54% and the lowest at 9.34%. The average return across all PFAs stood at 14.83%.

Conclusion:
Fund VI – Non-Interest (Retiree)’s 2024 performances reflect a generally steady year, with a few PFAs achieving notable success. While Premium Pension led the way, the overall average suggests a balanced performance across the board. Retirees and stakeholders should consider these results when assessing their investment choices, keeping in mind the varying outcomes across different administrators.

Note: This report is based on unaudited fund returns from January to December 31, 2024, and is not personal advice. For more detailed and personalised advice, consult with a financial adviser.