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Assets Liability Management, Macro-Economic Factors and Performance of Pension Funds Administration in Nigeria

Author

Listed:
  • Moses Tunde Oyerinde

    (Department of Actuarial Science & Insurance, Faculty of Management Sciences, University of Lagos)

  • Dr. Folake Feyisayo Olowokudejo

    (Department of Actuarial Science & Insurance, Faculty of Management Sciences, University of Lagos)

  • Prof Musa Adebayo Obalola

    (Department of Actuarial Science & Insurance, Faculty of Management Sciences, University of Lagos)

Abstract

The paper aims to investigate the impact of macroeconomic factors on the performance of pension funds administration in Nigeria. The paper utilized a purposive and convenience sampling method, collecting secondary data from 12 pension fund administration (PFA) companies for the years 2010-2021. The availability of audited financial statements was crucial in selecting the sample. The research design adopted was ex post facto, and descriptive analysis and inferential statistics were conducted to assess the suitability of the data. The research question was addressed through regressions, with the Hausman test rejecting the null hypothesis of a random effect model. The findings indicate that the real GDP growth rate has a negative and insignificant relationship with the performance of PFAs, as measured by the return on assets (ROA). This study highlights the importance for policy-makers and regulators in the pension funds industry to recognize the varying contributions of different assets and liabilities to company performance. It is recommended that pension funds focus on managing their assets and liabilities creatively to maintain performance despite fluctuations in macroeconomic factors.

Suggested Citation

  • Moses Tunde Oyerinde & Dr. Folake Feyisayo Olowokudejo & Prof Musa Adebayo Obalola, 2024. "Assets Liability Management, Macro-Economic Factors and Performance of Pension Funds Administration in Nigeria," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 8(6), pages 2429-2440, June.
    • Handle: RePEc:bcp:journl:v:8:y:2024:i:6:p:2429-2440
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    References listed on IDEAS

    as
    1. Amal Yamani & Khaled Hussainey & Khaldoon Albitar, 2021. "Does Governance Affect Compliance with IFRS 7?," JRFM, MDPI, vol. 14(6), pages 1-23, May.
    2. Ben Kajwang, 2022. "Role of pension management on economic growth: A review of literature," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 11(6), pages 635-641, September.
    3. Kazeem Abimbola Sanusi & Forget Mingiri Kapingura, 2021. "Pension funds as fuel for overall investment level and economic growth: An empirical insight from South African economy," Cogent Business & Management, Taylor & Francis Journals, vol. 8(1), pages 1935661-193, January.
    4. Mohajan, Haradhan, 2020. "Quantitative Research: A Successful Investigation in Natural and Social Sciences," MPRA Paper 105149, University Library of Munich, Germany, revised 15 Nov 2020.
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