Rhoda Adesilu

TRUSTFUND PENSIONS 14th Edition. April 2022 INSIDE THIS ISSUE COMPANY NEWS 1 INDUSTRY NEWS 2 INVESTMENT NEWS 3 HEALTHY LIVING 4 JOKES 'N' MORE 5 REMEMBER Use Sanitizer Wear Facemask Wash your Hands Keep Social Distance -@trustfundpltd 14th Edition. April 2022 COMPANY NEWS TRUSTFUND PENSIONS PARTNERS NECA ON JOB FAIR Trustfund Pensions Limited, one of the leading Pension Fund Administrators (PFAs) in Nigeria, has, under its Corporate Social Responsibility (CSR) Initiative, extended support to the Nigeria Employers’ Consultative Association (NECA) on the occasion of the 2022 Job, Career and Employability Fair. The Job fair, which was held on 7th April 2022, at the NICON Luxury Hotels, Abuja, was aimed at promoting employability, job creation, skills development, and decent work had in attendance over 255 participants made up of job seekers (including Corp Members), International Labour Organizations, Recruiters, private sector employers, Exhibitors, Press to mention a few. Trustfund Pensions showed its support by fully participating in the event which featured a Job/Career Fair where employers meet with and interview talents, career counseling/Guidance sessions with Human Resources Managers, Exposure to international job opportunities, on-thespot assessment of job applicants, and free soft-skill course for job applicants all aimed at reducing the spiraling rate of unemployment in the country. The PFA reaffirmed its commitment to community development by offering pension advisory services to participants and making its brand visible throughout the event. Coming soon 1 INDUSTRY NEWS PENCOM TO FINE PFAS OVER PENSIONERS’ DELAYED PAYMENT, OTHERS The National Pension Commission (PenCom) has promised to According to PenCom, a PFA that pays an amount in excess of sanction Pension Fund Administrators (PFAs) over the spate of what is specified on the no-objection approval granted by the delays in the payment of pension benefits, among other related Commission will be liable to refund of the overpaid amount and infractions. The Commission stated this in its ‘Revised regulation the investment income lost arising from the transaction, except on the administration of retirement and terminal benefits.’ where the difference is a residual amount or is as a result of the return on investment. As stated in the revised regulation, “A PFA that fails, neglects or refuses to enlighten the retiree on the features of Programmed It further stated that any PFA that pays an amount lower than Withdrawal and Retiree Life Annuity to enable the retiree to that specified on the no-objection approval granted by the make an informed decision shall be liable for an administrative Commission, would, in addition to paying the differential to the sanction of N500,000.” retiree, pay an administrative sanction of N500,000. According to PenCom, a situation where a PFA delays the “Any PFA that negligently submits to the Commission, a request submission of a request for approval to the Commission, for the with incorrect information that is likely to result in an payment of benefits to a retiree/beneficiary for more than 10 accelerated depletion of the RSA balance of a retiree, will pay an working days from the date of submission of relevant administrative sanction of N500,000,” noting that the PFA would documents, shall attract a penalty. Specifically, the PFA will pay refund to the RSA both the amount that was overpaid and the an administrative fine of N200,000, and N20,000 for every further lost investment income. day of delay thereafter. PenCom said any PFA that negligently submits to the Similarly, where a PFA delays the payment of retirement benefits Commission, a request with incorrect information and later for up to five working days after receipt of no-objection from the request the permission of the Commission to resubmit the Commission, PenCom said the affected operator would pay an request, would pay an administrative sanction of N1m per RSA. administrative fine of N200,000 and N20,000 for every additional day of delay thereafter. The regulator said, “Any violation of any provision of this regulation for which no sanction has been prescribed shall The regulator stated that “A PFA and/or Pension Fund Custodian attract an administrative sanction of not more than N2m. that pays retirement benefits without the Commission’s prior no-objection shall pay an administrative sanction of N1m. “This “All sanctions in this regulation shall be charged to the is in addition to refunding either the principal amount so paid or operator’s profit and loss account and the burden shall not be lost investment income thereof, whichever is higher.” transferred to the employees of the operators.” 2 INVESTMENT NEWS FUND PERFORMANCE REPORT ASSET ALLOCATION AS AT MARCH 31ST, 2021 ASSET ALLOCATION ALLOCATION ASSET ALLOCATION AS ATASASSET AS AT MARCH 31ST, 2021 AT MARCH 31ST, 2022 MARCH 2021 ASSET ALLOCATION AS AT MARCH 31ST, 2022 FUND II FUND I FUND III FUND IV *See Asset Allocation Legend below PRICE MOVEMENT CHART- MAR. ’21 VS MAR. ’22 INFLATION RISES TO 15.92% The headline inflation rate rose by 22bps to 15.92% yoy in March 2022, from 15.70% recorded in February 2022. This arose from price increments in gas and liquid fuel among others. Meanwhile, the food price index grew by 9bps to 17.20% when compared to the previous month’s rate, while Core inflation stood at 13.91% MoM. We foresee elevated inflation levels in the near term, as oil prices continue to rise as a fallout of the on-going RussiaUkraine crisis. In addition, hawkish stance adopted by global monetary authorities could push inflation higher, Nonetheless, these expectations are barring any radical global/macroeconomic shifts and apex bank interventions. ASSET ALLOCATION LEGEND FGN BONDS CASH CORPORATE BOND EQUITIES STATE BONDS MONEY MARKET HYBRID FUNDS TREASURY BILLS ALLOWABLE INSTRUMENTS Bonds, Sukuk, Treasury Bills, Global Depository Notes and other securities issued by the Federal Government of Nigeria and CBN, Non-interest compliant debt instruments, Ordinary Shares of Public Limited Liability Companies listed or proposed to be listed through an Initial Public Offer (IPO), on a Securities Exchange registered by SEC, Money Market, Instruments of Banks and Commercial Papers issued by eligible corporate entities, Hybrid Investment Funds, Real Estate Investment Trusts (REITs) registered by SEC, Private Equity Funds registered with SEC, Infrastructure Funds registered with SEC, Supranational Bonds, Supranational Sukuk, Global Depositary Receipts/Notes, (GDRs/Ns) and Eurobonds. 3 Regular handwashing is one of the best ways to remove germs, avoid getting sick, and prevent the spread of germs to others. Whether you are at home, at work, traveling, or out in the community, find out how handwashing with soap and water can protect you and your family. Washing hands prevents illnesses and the spread of infections to others Handwashing with soap removes germs from hands. This helps prevent infections because: People frequently touch their eyes, nose, and mouth without even realizing it. Germs can get into the body through the eyes, nose and mouth and make us sick. Germs from unwashed hands can get into foods and drinks while people prepare or consume them. Germs can multiply in some types of foods or drinks, under certain conditions, and make people sick. Germs from unwashed hands can be transferred to other objects, like thandrails, table tops, or toys, and then transferred to another person’s hands. Removing germs through handwashing therefore helps prevent diarrhea and respiratory infections and may even help prevent skin and eye infections. Not washing hands harms children around the world About 1.8 million children under the age of 5 die each year from diarrheal diseases and pneumonia, the top two killers of young children around the world. Handwashing with soap could protect about 1 out of every 3 young children who get sick with diarrhea 2, 3 and almost 1 out of 5 young children with respiratory infections like pneumonia 3, 5. Although people around the world clean their hands with water, very few use soap to wash their hands. Washing hands with soap removes germs much more effectively 9. Handwashing education and access to soap in schools can help improve attendance 10, 11, 12. Good handwashing early in life may help improve child development in some settings 13. Estimated global rates of handwashing after using the toilet are only 19% 6. Handwashing helps battle the rise in antibiotic resistance Preventing sickness reduces the amount of antibiotics people use and the likelihood that antibiotic resistance will develop. Handwashing can prevent about 30% of diarrhea-related sicknesses and about 20% of respiratory infections (e.g., colds) 2, 5. Antibiotics often are prescribed unnecessarily for these health issues 14. Reducing the number of these infections by washing hands frequently helps prevent the overuse of antibiotics—the single most important factor leading to antibiotic resistance around the world. Handwashing can also prevent people from getting sick with germs that are already resistant to antibiotics and that can be difficult to treat. 4