Premium Pension Assets Under Management Gain Over N1 Trillion

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 Despite the increase in the economic challenge and stiff competition in the industry, premium pension limited one of the leading Pension Administrator in the country has grown its Assets under management(AUM) to over N1 trillion at the end of the 2022 financial report, said Mr. Ibrahim Alhassan Babayo. 

This was known at the company Annual General Meeting(AGM) held at the corporate head office in Abuja 

According to Babayo, the growth represents N120.93 billion and 12.08 percent over the 2021 year-end's N879.48 billion.

He also said, the total number of Retirement Savings Account Holders (RSA), registered in the organization of the public and private sector as of last December 31, stood at 774,235 representing 7.85 percent of the industry. 

Babayo said PPl's revenue rose by 18.34 percent to N10.039 billion from N8.484 billion recorded in 2021, resulting in a profit. Before Tax Profit of N3.988billon, increase by 32.99 percent yearly while profit After Tax(PAT) stood at N2.654 billion representing 35.51 percent above the previous year's levels.

He said, "Today, we celebrate a significant milestone of attaining over N1 trillion AUM, a momentous achievement that demonstrates our resilience, innovation, and commitment. Our collective effort has enabled us to build a solid company that can withstand market volatility and uncertainty".

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