- Trustfund Pensions Limited reported double-digit growth across major performance indicators at its 17th Annual General Meeting in Abuja
- The company grew its RSA customer base by over 63% year-on-year and recorded more than 68% growth in profit after tax in 2025
- MD Uche Ihechere revealed plans for both organic and inorganic growth, including a business combination that could push assets to ₦4.2 trillion
FCT, Abuja — Trustfund Pensions Limited closed 2025 with Assets Under Management (AUM) of about ₦1.54 trillion and has set a target of reaching ₦2 trillion on a standalone basis by December 2026.
Managing Director and Chief Executive Officer Uche Ihechere announced the figures at the company’s 17th Annual General Meeting, held in Abuja, where shareholders reviewed the 2025 operating year.
Source: Original
Ihechere said the company posted double-digit growth across every major performance line: Retirement Savings Account (RSA) registrations grew by more than 63 per cent year-on-year, AUM rose 25 per cent, total fund investment income climbed about 48 per cent, total revenue grew 25 per cent, and profit after tax surged over 68 per cent, Vanguard reported.
“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,” he said.
How Trustfund Pensions has grown since inception
Ihechere traced the company’s journey from its founding under the Pension Reform Act, when it inherited roughly ₦54.5 billion in pension assets from the Nigerian Social Insurance Trust Fund (NSITF). That inherited portfolio has since grown to nearly ₦240 billion, even after the company paid out more than ₦23.09 billion to pensioners.
Trustfund Pensions now manages over 836,630 RSAs, which Ihechere said places the firm close to third position in the industry by contributor numbers, though it currently ranks within the top seven by AUM.
He said the company intends to become the third-largest Pension Fund Administrator (PFA) in Nigeria by the end of 2026 through a mix of organic growth and a planned business combination with a partner entity, Nation reported.
“Our strategy is to hit AUM of ₦2 trillion at the end of 2026 on stand-alone basis,” he said, adding that the enlarged combined entity would target assets of about ₦4.2 trillion by the same deadline.
Governance and capital strength highlighted at AGM
Board Chairman and NSITF Management Board Chair Shola Olofin said the AGM allowed shareholders to adopt audited financial statements prepared by KPMG and reappoint certain board members.
He pointed to digital transformation and regulatory compliance as key priorities, noting that examination reports from the National Pension Commission (PenCom) had been positive.
“Compliance is key. We have been ensuring adequate compliance with the regulatory agency, PenCom, and the reports of examination speak wonderfully well,” he said.
Non-Executive Director and Chapel Hill Denham CEO Bolaji Balogun noted that Trustfund Pensions was among the first PFAs in Nigeria to meet the new minimum regulatory capital requirements, following a capital raise completed late last year.
He said the company’s core purpose remained improving investment returns and service quality for contributors.
“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.
PenCom amends Act after 12 years
Previously, Legit.ng reported that the National Pension Commission (PenCom) began a formal review of the Pension Reform Act 2014, citing the need to bring the legislation in line with current realities and close gaps exposed during implementation.
PenCom Director-General and Chairman of the Pension Industry Leadership Council, Omolola Oloworaran, made the announcement on Tuesday at a press conference following the council’s third quarterly meeting at Fraser Suites, Abuja.
Source: Legit.ng