BY NKECHI NAECHE-ESEZOBOR–Twenty-Two Pension Fund Administrators (PFAs) registered more than 11,000,000 million Retirement Savings Account Holders ( RSAs) at the Q2 2021.
The pension industry regulator stated this in its second quarter 2021 reports, in its breakdown, the commission said 15 PFAs had registered less than 500,000 RSAs each while the remaining 7 PFAs had registered more than 500,000 RSAs each as at the end of Q2: 2021.
On PFA market share by RSA registration, the commission said as at the end of Q2 2021 the market share of l three PFAs increased from
1.60% in Q1: 2021 to 4.5% in Q2: 2021.
Similarly, the bottom five PFAs recorded
a slight increase in the number of registered RSAs from 4.2% in Q1: 2021 to 7.1%
in Q2: 2021.
In the same vein, the bottom ten PFAs recorded a marginal increase from 15.30% in Q1: 2021 to 18.2% in Q2: 2021.
The market share of the top three remained unchanged at 37.30% in Q2: 2021,while the top 5 PFAs also maintaining their market share of 53.10% as recorded in Q1 2021.
The market share of the top ten PFAs marginally declined from 78.30% in Q1: 2021 to 75.1% as at Q2: 2021.