BY NKECHI NAECHE-ESEZOBOR—As part of efforts to improve transparency and standardize reporting across the pension industry, the National Pension Commission (PenCom), has issued a new directive mandating all Licensed Pension Fund Administrators (PFAs) to update investment information displayed on their homepage of official websites.
This is contained in a circular with reference PenCom/INSP/Surv/2025/1586, dated 12 November 2025, and signed by A.M. Saleem, Director of the Surveillance Department, serves as an addendum to a previous guideline issued in March 2013 on mandatory website disclosures for PFAs.
With the new updated rules, PenCom has formally discontinued the decade-long requirement which required PFAs to display daily unit prices for the RSA and Retiree funds (for the last 7 days).
The circular reads further: “PFAs are required to display on their websites the last six months’ Rate of Return, which is a 3-year rolling average based on compounded rates of return, calculated in accordance with the Circular for the Calculation and Reporting of Rate of Returns by Licensed Pension Fund Operators (LPFOs).
“For example, the last 6 months’ Rate of Return will be the 36-month compounded rate of return for April 2025, May 2025, June 2025, July 2025, August 2025, and September 2025.
“The Rate of Returns above must be clearly displayed on the homepage of every PFA’s website.”
Accordingly to PenCom, the new directive takes immediate effect.
