According to Aldemiro Gonçalves, executive administrator of the Angolan Agency for Insurance Regulation and Supervision (Arseg), the assets managed by pension fund managers reached approximately 1.25 billion kwanzas (equivalent to 1.1 billion euros) in 2025. This figure represents a 12% increase compared to 2024 data.
Gonçalves, who attended the third edition of the conference 'Pension Fund: How to Massify Savings for Retirement?', promoted by Revista Economia e Mercado, reported that there are currently 46 pension funds operating in the country. He detailed that these include 35 closed funds and 11 open funds.
The source added that with the conclusion of at least five pending publication processes in the Official Gazette, the total number of funds should exceed 50 by the end of the year.
Despite the observed growth trajectory, the Arseg executive administrator emphasized the need for significant investment in financial education, involving all sector agents. He stressed that the 35 closed funds are linked to a single employer, a single company, and a specific professional group.
This concentration is evident in the managed portfolios: closed funds hold approximately 96.63% of all capital managed by the sector, while open funds account for only 3.37%.
Gonçalves commented that this demonstrates that, in Angola, retirement savings remains, predominantly, a benefit accessible only to workers in large corporations, multinationals, and certain public sector institutions. Furthermore, only three management entities manage 69% of all market participants.
Regarding participants, the market registered 68,423 people by the end of last year, which constitutes a 4% growth compared to 2024. However, he stressed that this number is still a small universe compared to Angola's economically active population.
The official also pointed out opportunities for innovations in offered products, warning about the existence of various categories of citizens outside the pension fund system, citing examples such as liberal professionals, including lawyers, doctors, and architects.