Trustfund Pensions Limited has recorded remarkable financial growth, with its assets under management (AUM) soaring to ₦1.23 trillion for the financial year ended December 31, 2024. This 19 percent rise from the previous year’s ₦1.03 trillion underscores the company’s strong performance and strategic investment decisions amidst a challenging economic environment.
The development was announced at the firm’s 16th Annual General Meeting (AGM) held in Abuja, where shareholders unanimously approved a dividend payout of 55 kobo per share, a move that highlights the pension fund administrator’s sustained profitability and commitment to shareholder returns.
Trustfund Pensions also reported significant growth in its earnings. Profit before tax rose by 46 percent to reach ₦3.8 billion, while profit after tax jumped by 48 percent. This impressive performance has bolstered shareholders’ confidence, with shareholders’ funds climbing to ₦23 billion, far above the ₦5 billion minimum capital requirement set by the National Pension Commission (PenCom).
Speaking at the AGM, Managing Director/Chief Executive Officer, Mr. Uche Ihechere, attributed the performance to prudent risk management, diversified investment strategies, and the company’s unwavering focus on pension fund security and value creation.
Despite the strong financial metrics, Ihechere acknowledged that rising inflation continues to erode real investment returns, posing a significant challenge to long-term fund performance. “The impact of inflation has reduced the real value of our yields. While nominal figures are rising, real returns remain pressured,” he noted.
To counteract this, he advocated for broader investment channels, especially in infrastructure and real sector projects, which could offer both competitive returns and economic value.
Ihechere also welcomed the Federal Government’s proposed ₦700 billion bond issuance to settle outstanding accrued pension liabilities. He described the move as a critical step toward restoring trust in the pension system and ensuring that retirees are not left in prolonged financial uncertainty.
On his part, President of the Nigeria Labour Congress (NLC), Comrade Joe Ajaero, used the opportunity to raise important governance issues in the pension sector. He called for greater oversight, stakeholder inclusion, and most notably, the immediate constitution of a substantive board at PenCom.
Ajaero stressed that many retirees still grapple with delayed payments and non-remitted pension contributions, urging both government institutions and private sector employers to honor their obligations under the Pension Reform Act. “Compliance remains an issue, and we must prioritize the financial security of our retirees,” Ajaero said.
pons Limited not only reinforces its position as a leading player in Nigeria’s pension industry but also reflects a broader positive outlook for the sector. With over ₦1.23 trillion in managed assets, improved earnings, and increasing shareholder value, the company is setting a benchmark for transparency, accountability, and investor confidence.
Industry analysts believe that with continuous regulatory support, infrastructure-focused investment options, and sustained governance reforms, the Nigerian pension industry is well-positioned to play a pivotal role in the country’s economic development.