Leadway Pensure PFA Limited, one of the pension funds administrator in the country, yesterday, stated that all funds under its Retirement Savings Account, RSA, outperformed their stipulated benchmark for October 2020.
In a statement in Abuja, the company disclosed that its strategy to guard the Retirement Savings Account, RSA, funds under its management against decline in value, helped the funds to outperform the country's inflation rate.
The company revealed that in the month under review, its annualised return for RSA Fund I was 32 per cent against a 25 per cent benchmark; adding that RSA Fund II returned 25 per cent against a 23 per cent benchmark.
It added that its RSA Fund III returned 20 per cent against a 15 per cent benchmark, and RSA Fund IV returned 18 per cent against a nine per cent benchmark, culminating in an overall high performance of RSA funds across multiple investments in the company.
The company explained that the annualized return represented the approximate return achievable by an investment if retained for a whole year as opposed to when it is prematurely terminated.
Commenting on the results, Managing Director, Leadway Pensure PFA, Mrs. Aderonke Adedeji, stated that the performance was a testament to the company's consistent efforts to deliver excellent results to its customers and remain one of the leading PFAs in the country.
She said "As a Company, we work assiduously to never stray from our objective of remaining amongst the top-five Pension Fund Administrators in the nation. Being intensely aware of the dynamic nature of the market, we consciously guard our RSA funds against downturns to preserve value. Thus, causing our funds to outperform a 14.23 per cent inflation rate in October. We remain confident that the rest of the year will not be any different."
The company explained that the Retirement Savings Account was initiated by the Federal Government under the repealed Pensions Reform Act (PRA)of 2004 (now enacted PRA 2014) and is used to set aside money towards an individual's retirement; with joint contributions from the employer and the employee.
The Multi-fund structure, it added, is a framework designed to align the retirement savings of contributors to their risk appetite by maintaining four funds with different tolerance for risk.