Nigeria’s pension trade continued its regular climb in October 2025, as fund managers navigated a mixture of greater fixed-income yields and subdued inventory market exercise.
Regardless of the cautious funding temper, most Pension Fund Directors (PFAs) posted average good points throughout all RSA fund classes.
Based on knowledge compiled by the Nairametrics Analysis staff, the general common return for the trade stood at 1.91% in October, marking a stronger outing in comparison with 1.24% recorded in September 2025.
Fund I, which caters to youthful contributors with greater danger appetites, remained the very best performer with a mean return of two.80%. Fund II adopted with 1.88%, Fund III averaged 1.58%, whereas Fund IV — the retirees’ fund — posted the bottom return at 1.40%.
All proportion returns had been calculated based mostly on modifications in fund unit costs as printed by the 17 Pension Fund Administrator on their official web site for September and October 2025, as Nigeria Police Pressure Pensions Restricted knowledge was incomplete.
High Performing PFAs in October 2025
- OAK Pensions Restricted topped the chart because the best-performing PFA in October, with a mean return of two.32%. The corporate delivered sturdy outcomes throughout all fund classes, Fund I (3.72%), Fund II (2.28%), Fund III (2.02%), and Fund IV (1.27%). This means a well-diversified portfolio in addition to sturdy danger administration.
Its constant publicity to high-yield authorities securities and high quality equities helped it keep forward of the pack.
- Coming in an in depth second was Nigerian College Pension Administration Firm, with a formidable 2.30% common return. The agency led all PFAs below Fund I, delivering a standout 4.65% acquire — the best return throughout your entire trade.
This efficiency was fueled by strategic positioning in high-yield bonds and environment friendly asset allocation.
- CardinalStone Pensions additionally posted one other sturdy month, rating third with a mean return of two.26%. The PFA’s 2.79% return below Fund I reveals the influence of its data-driven funding technique and disciplined danger administration.
- Pensions Alliance Restricted got here in fourth with a 2.23% common return, supported by a robust 3.61% acquire below Fund I. The agency benefited from its give attention to short-term authorities securities that delivered greater yields through the month.
- Rounding out the highest 5 was Trustfund Pensions Plc, which maintained consistency with a mean return of two.22% and a 3.29% acquire below Fund I. The PFA’s disciplined asset combine and cautious strategy to capital preservation helped maintain its efficiency.
Different PFAs that posted above-average returns embody:
- Tangerine Apt Pensions – 2.20%
- Norrenberger Pensions – 2.10%
- Guaranty Trust Pension Managers – 2.01%
- NLPC Pension Fund Directors – 1.91%
- Leadway Pensure PFA Restricted – 1.84%
In the meantime, Crusader Sterling Pensions Restricted recorded the weakest general return at 1.45%, largely reflecting conservative positioning and decrease publicity to higher-yield property.
RSA fund class breakdown
Fund I (Youthful Contributors)
Fund I, designed for contributors below 50 with greater danger tolerance, led the market with a mean acquire of two.80%. Improved efficiency in equities supported stronger outcomes throughout most PFAs.
High 3 Performers:
- Nigerian College Pension Administration Firm – 4.65% (rose to N2.0149 per unit)
- NLPC Pension Fund Administrator – 3.81% (rose to N2.1527 per unit)
- OAK Pensions Restricted – 3.72% (rose to N2.9337 per unit)
All 17 PFAs recorded a optimistic return on this Fund class.
Fund II (Default Fund for Most Contributors)
Fund II, which represents the most important share of contributors, recorded a modest 1.88% common progress in October. This displays cautious funding methods amid risky market situations.
High 3 Performers:
- CardinalStone Pensions – 2.50% (rose to N4.8205 per unit)
- Leadway Pensure PFA Restricted – 2.46% (rose to N8.3722 per unit)
- Tangerine Apt Pensions – 2.45% (rose to N8.1145 per unit)
All PFAs posted optimistic outcomes on this class, though Crusader Sterling Pensions lagged with 0.92%.
Fund III (Pre-Retirees)
Fund III, tailor-made for contributors approaching retirement, carried out steadily with a 1.58% common return. Secure bond yields and conservative asset allocation drove returns.
High 3 Performers:
- OAK Pensions Restricted – 2.02% (rose to N2.3769 per unit)
- Tangerine Apt Pensions – 1.86% (rose to N2.6664 per unit)
- Trustfund Pensions Plc – 1.85% (rose to N2.3948 per unit)
RSA Fund IV (Retirees)
Fund IV, probably the most conservative class, posted a mean return of 1.40% in October, reflecting good points in fixed-income and cash market devices.
High 3 Performers:
- Premium Pension Restricted – 1.94% (rose to N6.8985 per unit)
- CardinalStone Pensions – 1.92% (rose to N3.8394 per unit)
- Pensions Alliance Restricted – 1.60% (rose to N7.1541 per unit)
What you need to know
The development in pension fund efficiency throughout October was largely pushed by greater yields within the fixed-income market, which boosted the worth of bond holdings throughout a number of PFAs.
Fairness market exercise, although restricted, additionally contributed positively — the NGX All-Share Index (NGX-ASI) gained round 8% month-to-date through the interval, offering delicate help to portfolio valuations.
Fund I remained the highest performer, reflecting its publicity to equities and longer-duration property, whereas Fund IV stayed conservative, aligning with retirees’ decrease danger urge for food.
It’s also price noting that Nigeria Police Pressure Pensions Restricted, which had led in earlier months, was excluded from this rating because of incomplete knowledge for October.
The sturdy efficiency by OAK Pensions and Nigerian College Pension Administration displays how efficient asset allocation and strategic diversification can ship worth even in unsure markets.
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