With pension assets at an all‑time high and the industry facing consolidation pressure, HR leaders must go beyond passive fund selection. Ask your Pension Fund Administrator these questions—and demand clear answers.
- “What is your current capital adequacy ratio relative to the June 2027 requirement of N20 billion?”
Why it matters: If your PFA is undercapitalised, it may be acquired or merge, potentially disrupting service delivery and online access for your employees. - “What percentage of our employees’ RSA data is fully recaptured and biometric‑verified?”
Why it matters: Legacy data gaps can delay retirement and death benefit claims. Your PFA should provide a workforce‑level report, not just vague assurances. - “How have you adjusted equity exposure in our employees’ default funds (e.g., Fund II, Fund IV) following PenCom’s limit increase?”
Why it matters: Higher equity limits mean higher potential returns—but also higher short‑term volatility. Your employees deserve clear communication on risk. - “What concrete steps have you taken to enrol our informal contract workers into the Personal Pension Plan (PPP)?”
Why it matters: Many organisations rely on gig or outsourced workers. Forward‑looking PFAs should offer seamless PPP onboarding and micro‑deduction options. - “Can you provide a quarterly compliance certificate showing our remittance timeliness and any penalties incurred?”
Why it matters: Penalties for late remittance (over seven working days after salary payment) can be substantial. A proactive PFA will help you track and avoid them.
