Leadway Pensure PFA Limited, Nigeria’s foremost pension funds administrator, has outperformed the benchmark funds under it’s Retirement Savings Account (RSA) for October 2020.
A statement on Friday from the company reported that all funds under its Retirement Savings Account (RSA) outperformed their stipulated benchmark for October 2020.
The statement read that: “In the month under review, Leadway Pensure PFA’s annualized return for RSA Fund I was 32% against a 25% benchmark; RSA Fund II returned 25% against a 23% benchmark; RSA Fund III returned 20% against a 15% benchmark, and RSA Fund IV returned 18% against a 9% benchmark, culminating in an overall high performance of RSA funds across multiple investments in the Company.”
The statement explained that: “The annualized return represents 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 is 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% inflation rate in October. We remain confident that the rest of the year will not be any different.”
The Retirement Savings Account was initiated by the Federal Government under the repealed Pensions Reform Act (PRA)of 2004 (now enacted PRA 2014) and is used to set aside money towards an individual’s retirement; with joint contributions from the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, while the Multi-fund structure is a framework designed to align the retirement savings of contributors to their risk appetite by maintaining four funds with different tolerance for risk.
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