Premium Pension records N97.25bn assets growth in 2021
Premium Pension Limited (PPL) on Wednesday said its Assets Under Management (AUM) grew by N97.25 billion in 2021.
Head, PPL Corporate Communications, Mr Aliyu Ali said this in a statement made available to journalists on Wednesday in Abuja.
Ali said that Mr Ibrahim Babayo, the Chairman, Board of Directors of PPL said this at the 17th Annual General Meeting (AGM) of the company held on Monday in Abuja.
According to Babayo, this is an improvement compared to N787.80 billion recorded in 2020.
He said that the growth was a year-on-year growth rate of 12.34 per cent, adding that it was a significant performance relative to industry growth of 9.1 per cent.
Babayo said PPL had continued to maintain its position as one of the leading Pension Fund Administrators (PFA).
The Chairman said that the total number of Retirement Savings Accounts (RSAs) registered in both public and private sector organisations as at December 31, 2021 stood at 754,888, representing 7.92 per cent of the industry total.
“Of the total RSAs, 453,466 had been funded as at the end of 2021, while the remaining are being engaged for funding,” Babayo said.
Babayo said that from the profit recorded, the company’s Board of Directors approved dividend of N1.80 per share translating to N1.18 billion.
He said that PPL closed the year 2021 as a net gainer in the transfer window in all quarters, saying it was an outstanding feat.
“Out of 9,139 individuals that expressed interest to migrate their account to Premium Pension, 4,159 were transferred successfully.
“This represents a conversion rate of 46 per cent, those not transferred as at the end of the year was because of delays with data recapture, the only prerequisite for the process.”
Babayo said that for the entire year, N16.05 billion was transferred to Premium Pension, representing 9.35 per cent of the total assets transferred within the industry.
The statement also quoted Mr Umar Mairami, the Managing-Director and Chief Executive Officer of PPL who assured that the company would be consistent in offering premium experience to its members.
