The Kaduna PFA Forum (KAPFAF) is an association of representatives of all the Pension Fund Administrators with presence in Kaduna State. The Forum aims at collaborating with and complementing government’s effort, as well as private sector employers, at ensuring that RSA holders in Kaduna State, particularly under the Contributory Pension Scheme (CPS), enjoy seamless services and stress-free retirement. The forum’s role is advisory and consultative while it is also collaborative in ensuring that the objectives of the CPS are achieved for the benefit of all stakeholders.
The Contributory Pension Scheme (CPS) is new pension scheme (since 2004) which is contributory, fully funded, with private third party custody of the funds and assets and based on individual accounts. It ensures that everyone who has worked receives his/her retirement benefits as and when due.
The CPS was birthed by the Pension Reforms Act 2004 (PRA 2004) which was revised after 10 years in 2014 by the PRA 2014.
One of the main objectives of the pension reform is to ensure that every person that worked in either the public or private sector in Nigeria receives his/her retirement benefits as and when due.
An employee shall make monthly contributions of a minimum of 8% of the total of his/her monthly emoluments (i.e., monthly basic salary, transport allowance and housing allowance) into his RSA. The employer shall contribute a minimum of 10% of the employee’s monthly emoluments towards the retirement benefits of the employee.
In Kaduna State:
Kaduna State introduced the pension reform in 2007, soon after the Federal government and contributions under the contributory pension scheme commenced in March 2008 but it was epileptic. There were several shortcomings in the implementation of the 2007 law which made the Mal. Nasir El-Rufai administration to repeal the law in 2016 and enact the Kaduna State Pension Reform Law 2016.
The 2016 law created the State Pension Bureau as the regulator and supervisor of both State and Local Governments pension in Kaduna State. The Governor also approached the National Pension Commission to release one of its staff, Mr Dan Ndackson, to help set up the Bureau. He was also instrumental to the formation of the Kaduna State PFA Forum
Mrs. Esther Alibaba tookover the reigns as Ag. Executive Secretary when Mr. Dan Ndackson returned to PenCom in 2018. In August 2020, Professor Salamatu Idris Isah was appointed Executive Secretary of the Bureau while Mr. Ndackson returned as the Board's Chairman
1) PenCom (Regulator)
4) Pension Fund Administrators
5) Pension Fund Custodians
6) Kaduna State Pension Bureau
APT Pension Fund Managers Limited
ARM Pension Managers (PFA) Ltd
AXA Mansard Pensions
CrusaderSterling Pensions Limited
Fidelity Pension Managers
First Guarantee Pension Limited
IEI-Anchor Pension Managers Limited
Investment One Pension Managers Ltd
Leadway Pensure PFA Limited
Legacy Pension Managers Limited
Nigerian University Pension Management Company
NLPC Pension Fund Administrators Limited
OAK Pensions Limited
Pensions Alliance Limited
Premium Pension Limited
Radix Pension Managers Limited
Sigma Pensions Limited
Stanbic IBTC Pension Managers Limited
Trustfund Pensions Limited
Veritas Glanvils Pensions Limited
List of closed Pension Fund Administrators:
Chevron Closed PFA Limited
Nestle Nigeria CPFA
Nigerian Agip CPFA Limited
Progress Trust CPFA Limited
Total Nigeria CPFA
o Diamond Pension Fund Custodian Limited
o First Pension Custodian Nigeria Limited
o UBA Pension Fund Custodian Limited
o Zenith Pensions Custodian Limited
1. Pension Fund Operators Association of Nigeria (PenOp)
2. Nigeria Union of Pensioners (NUP)
3. Federal Civil Service Pensioners Association of Nigeria (FCSPAN)
4. Federal Universities Pensioners Association (FUPA)
5. Kaduna State PFA Forum (KAPFAF)