Trustfund pensions grows assets to N1.23tn, announces new dividend per share
Business
Trustfund Pensions Limited has reported strong financial results for the year ended December 31, 2024, with assets under management (AUM) rising by 19 percent to over ₦1.23 trillion, up from ₦1.03 trillion in the previous year.
The update was shared following the company’s 16th Annual General Meeting held in Abuja, where shareholders also approved a dividend payout of 55 kobo per share.
The company posted a 46 percent increase in profit before tax, reaching ₦3.8 billion, while profit after tax rose by 48 percent. Shareholders’ funds increased by 12 percent to ₦23 billion, significantly above the ₦5 billion regulatory minimum.
Despite the positive results, the company’s Managing Director and Chief Executive Officer, Mr. Uche Ihechere, highlighted the impact of inflation on real returns, saying rising consumer prices had affected the actual value of investment yields.
He called for broader investment options, particularly in infrastructure, to enhance pension fund performance.
Ihechere also welcomed the Federal Government’s proposed ₦700 billion bond issuance aimed at clearing accrued pension liabilities, describing it as a long-overdue signal of renewed commitment to retirees’ welfare.
Nigeria Labour Congress (NLC) President, Comrade Joe Ajaero, emphasized the need to strengthen governance in the pension system, noting challenges in remittance compliance and the absence of a fully constituted board at the National Pension Commission (PenCom).
He called for greater transparency and stakeholder inclusion in managing pension and related social security funds.
Ajaero urged the government and private sector employers to prioritize timely remittances and warned that delays and pension arrears continue to affect many retirees.
