Trustfund Pensions Reports N1.54tn Assets, N23bn Payments

Trustfund Pensions Limited has said it paid more than N23.09bn to pensioners while growing its assets under management to about N1.54tn as of December 2025. The company disclosed this in a press statement issued on Sunday following its 17th Annual General Meeting held in Abuja. According to the statement, the pension fund administrator is targeting assets under management of N2tn by the end of 2026 as part of its strategy to strengthen its market position and expand value for contributors. The statement quoted the Managing Director and Chief Executive Officer of Trustfund Pensions, Uche Ihechere, as saying the company recorded double-digit growth across major performance indicators, including Retirement Savings Account registrations, assets under management, income generation and profitability during the 2025 financial year. Ihechere said the company grew its RSA customer base by more than 63 per cent year-on-year, increased its assets under management by 25 per cent, recorded about 48 per cent growth in total fund investment income, 25 per cent growth in total revenue, and more than 68 per cent growth in profit after tax. He described the performance as evidence of the company’s strong business fundamentals and commitment to delivering value to contributors and shareholders. “Along the value chain of the business, we recorded tremendous upswing in terms of the fundamentals of the business. Our shareholders are happy, and management is also happy because we have been able to continue to deliver on our mandate,” Ihechere said. According to the statement, Trustfund Pensions inherited about N54.5bn in pension assets previously managed by the Nigeria Social Insurance Trust Fund following its establishment under the Pension Reform Act. Ihechere said the company had grown the inherited portfolio to nearly N240bn despite paying more than N23.09bn to pensioners over the years. The statement read, “The MD said Trustfund Pensions, which was established through the Pension Reform Act as the pension fund administrator, inherited about N54.5bn of the pension assets managed by the Nigerian Social Insurance Trust Fund at inception. “He noted that the company has grown that particular portfolio to nearly N240bn over the years, despite paying more than N23.09bn to pensioners.” It added that the company currently manages more than 836,630 Retirement Savings Accounts, placing it among the leading pension fund administrators in the country by contributor numbers. Related News Presco posts N122.2bn H1 profit, declares N10 dividend Zenith Bank named Africa’s best lender Zenith Bank’s liquidity ratio climbs 70.97% “In terms of RSA, we are almost the third in the industry. Though in terms of AUM, we are within the first seven, which we intend, through our strategic process, to change,” Ihechere said. He said Trustfund Pensions was pursuing both organic and inorganic growth strategies as it works towards becoming Nigeria’s third-largest pension fund administrator. “Our strategy is to hit AUM of N2tn at the end of 2026 on a stand-alone basis,” he said. Ihechere added that following a planned business combination with its partner, the enlarged entity would target assets under management of about N4.2tn by the end of 2026. The statement also quoted the Chairman of Trustfund Pensions Limited and the Nigeria Social Insurance Trust Fund Management Board, Shola Olofin, as saying the company recorded a successful year driven by stronger performance and sound corporate governance. Olofin said the annual general meeting enabled shareholders to review the company’s financial performance, adopt its audited financial statements prepared by KPMG, and reappoint some members of the board. He said regulatory compliance and digital transformation remained priorities for the company. “Compliance is key. We have been ensuring adequate compliance with the regulatory agency, PenCom, and the reports of examination speak wonderfully well,” he said. Also quoted in the statement was the Non-Executive Director of Trustfund Pensions and Chief Executive Officer of Chapel Hill Denham, Bolaji Balogun, who said the company had strengthened its position after becoming one of the first pension fund administrators in Nigeria to meet the new regulatory capital requirement. Balogun attributed the achievement to a successful capital raise completed at the end of the previous year and said the company remained focused on improving investment returns and customer service. “The reason we exist as a business is to do better for our contributors and customers. That is about improving the quality of returns on their pensions and improving the quality of service we provide,” he said. He added that Nigeria’s pension industry still had significant growth opportunities and expressed confidence that Trustfund Pensions would continue to strengthen its position in the sector. Sami Tunji Sami Tunji is a Senior Business Correspondent at Punch Newspapers with about five years of experience in data-driven reporting. He covers finance, ICT, and broader macroeconomic issues, combining analytical insight with clear storytelling. Sami’s work reflects strong editorial judgment, professional development, and a commitment to accurate and informative business journalism.