RSA Pension Fund Performance Report: September 2025

RSA Pension Fund Performance Report: September 2025

1. Executive Summary

This report provides a comprehensive analysis of the performance of Nigerian Retirement Savings Account (RSA) Pension Funds for the month of September 2025. The analysis covers monthly returns, year-to-date (YTD) performance, and long-term growth since the inception of the funds. The data indicates a positive trend across most funds for the month, with notable variations in performance among Pension Fund Administrators (PFAs).

2. Monthly Performance Analysis: September 2025

In September 2025, the pension funds delivered steady returns. The active funds for younger contributors and those still in active employment (Funds I, II, and III) and specialized funds (V and VI) all showed positive growth.

Average Monthly Returns across Funds:

• Fund I: 1.3520%
• Fund II: 1.0869%
• Fund III: 1.2809%
• Fund IV: 1.3266%
• Fund V: 1.4943%
• Fund VI (Active): 1.4947%
• Fund VI (Retiree): 1.3475%

Key Highlights for September 2025:

• Top Performer (Fund I): NPF Pensions was the standout performer in the high-risk fund, delivering an impressive monthly return of 2.7843%.
• Top Performer (Fund II): NPF Pensions also led the default fund for contributors under 50, with a return of 2.3244%.
• Top Performer (Fund III): NPF Pensions continued its strong performance in the medium-risk fund for contributors over 50, achieving a return of 1.8977%.
• Consistent Performers: Across the board, PFAs like NPF Pensions, PAL Pensions, and CrusaderSterling Pensions demonstrated strong results for the month.

3. Year-to-Date (YTD) Performance (as of September 30, 2025)

The year-to-date figures show robust growth, reflecting a favourable investment climate over the first three quarters of the year.

Average YTD Returns across Funds:

• Fund I: 21.5357%
• Fund II: 18.2949%
• Fund III: 14.6533%
• Fund IV: 12.8019%
• Fund V: 14.4772%
• Fund VI (Active): 17.8678%
• Fund VI (Retiree): 13.1367%

Key Highlights for YTD 2025:

• Leading YTD Performer (Fund II): PAL Pensions has shown exceptional performance throughout the year, leading the Fund II category with a YTD return of 28.7113%.
• Strong YTD Growth: Trustfund Pensions and FCMB Pensions also recorded strong YTD growth in Fund I, with returns of 28.8812% and 24.4415% respectively.
• The high average return in Fund I (21.5357%) suggests that aggressive growth strategies have paid off significantly in 2025.

4. Long-Term Performance: Since Inception

The since-inception data provides insight into the long-term consistency and value generation of the PFAs. This remains a critical metric for evaluating the stability and reliability of pension fund management.

Average Since Inception Returns across Funds:

• Fund I: 163.89%
• Fund II: 657.52%
• Fund III: 149.77%
• Fund IV: 521.68%

Key Highlights for Since Inception Performance:

• Exceptional Long-Term Growth (Fund II): CrusaderSterling Pensions stands out with a remarkable return of 1097.74% in Fund II since inception, the highest in this category. Premium Pension also shows strong long-term performance with 947.96%.
• Top Performer (Fund I): Stanbic IBTC Pension Managers has the leading long-term performance in Fund I, with a return of 274.12%.
• Top Performer (Fund III): NPF Pensions leads the Fund III category with a since-inception return of 193.17%.
• This data underscores the power of compound growth over time, with several funds achieving multiples of their initial value.

5. Conclusion

The Nigerian pension fund industry demonstrated solid performance in September 2025, capping off a strong third quarter. While monthly returns were modest, the year-to-date figures indicate significant growth for contributors.

Long-term data reveals that consistent and strategic management by leading PFAs like CrusaderSterling Pensions, Stanbic IBTC Pension Managers, and NPF Pensions has generated substantial wealth for RSA holders. Contributors should continue to monitor performance across these different time horizons when evaluating their PFA choices.

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