Latest data released by industry analysts, Pension Nigeria, has shown that the Nigerian Police Force (NPF) Pensions and Access Pensions closed 2022 as the top PFAs by investment returns across the four main retirement savings accounts funds.
Globally, 2022 was a difficult year for financial markets as rate hikes by global central banks drove bearish sentiments across most asset classes.
In Nigeria, the Central Bank of Nigeria (CBN) responded to rising inflation with an increase in the key monetary policy rate from 11.5 percent to 16.5 percent by the end of the year. Over the year, average pension fund returns across the four funds was 8.97 percent, 9.55 percent, 9.86 percent, and 10.22 percent for Fund I, II, III and IV respectively.
