By Ngozi Onyeakusi—Stanbic IBTC Pension Managers Limited, one of the largest Pension Funds Administrators (PFAs) by Assts Under Management and number of Retirement Savings Accounts (RSA) has released its abridged audited financial statement for 2022.

The report revealed that Stanbic IBTC Pension Managers generated gross income to the tune of approximately N52.4 bn for the 2022 financial year.
This represents growth rate of 13.9 per cent when compared with N46.06bn generated in 2021.

The Company attributeed the growth in its gross income largely to management fees which is fees income charge on the pension assets it manages.

A breakdown of the gross income, according to a report indicated that N48.3 bn was generated from fee income, representing a 14.02 per cent increase when compared with N42.4 bn recorded in the comparable period of 2021.

Also N4.07 bn was earned from investment income showing 12.2 per cent growth when compared with N3.6 bn recorded in the preceding period of 2021.

Similarly, the firm earned N46.8m from other income with the period.