Pension Companies, also known as Pension Fund Administrators are licensed under the pension law to privately manage pension funds and assets for individuals and organizations. Management of pension funds involves keeping custody of and investing these pension funds to increase wealth and pay for worker’s retirements. A great Pension Company will be one with experienced pension fund managers. Such a company must also have a history of great investment returns and performance in asset management.
This article covers the best Pension Companies you can trust in Nigeria.
ARM Pensions Management Company
Arm & Resources Management Company (ARM) Limited was established in 1994. Over the years, the company has grown to become one of the leading investment management firms in the country. As an asset management firm, the company uses a team of highly experienced professionals to maximize its clients’ returns using investments. The firm offers various retirement plans and options for individuals and organizations based on their setup and financial capacity. For example, there is the Micro Pension Scheme designed for artisans and self-employed people. There is also the Contributory Pension scheme for those working in the private and public sectors. ARM was named Best Fund Manager, Nigeria 2013 by Capital Finance International. The firm is safe and secure as it is regulated by the Nigerian Securities and Exchange Commission (SEC). ARM has its headquarters in Lagos and other offices across the country. Since its inception, the company has had a successful track record of protecting and growing investments.
AXA Mansard Pensions Limited
AXA Mansard is one of the major pension fund administrators in the country. The company offers lots of beneficial packages you can choose from depending on where you are in your financial journey. The company’s products cut across health, investments and saving plans. AXA Mansard is open both to organizations or individuals. An individual can open a Retirement Savings Account with the company so as to save up for the future. The company also allows individuals to use the company as a voluntary contribution option in a bid to simply increase their retirement savings. An employer or organization can register all employees with AXA Mansard. AXA Mansard received awards for financial strength in 2016. The company is certified by the Standard Organization of Nigeria (SON) for its quality management systems.
CrusadersSterling Pensions Limited
CrusadersSterling Pensions Limited was incorporated in 2004 and has grown to become one of the leading pension fund administrators in the country. In fact, the company was selected as the best performing pension fund administrator in Nigeria (2014). CrusadersSterling offers various options of both retirement and savings accounts. The company allows employees to open voluntary contributions which are extra funds to add to their mandatory pension contributions. The company also provides consultancy services and education for its clients. CrusadersSterling is supervised by the National Pension Commission (PENCOM). CrusadersSterling is reputed for its excellent customer service and has been the leading Pension Funds Administration in Nigeria (based on superior returns on Assets) for many years. The company has consistently led all other Pension Fund Administrations in the past 8 years in terms of returns on investment.
Oak Pensions was set up by the Pension Reforms Act of 2014. The company is licensed by the National Pension Commission (PenCom) to manage the Retirement Savings Account (RSA) of both public and private sector employees. Oak Pensions offers beneficial products to include a voluntary contribution plan where individuals can own an account with the firm as an additional plan to their mandatory pension savings. The company also provides advisory services to clients; organizations and individuals alike. Oak Pensions is known to apply modern technology to its operations. Its customers can use the Oak Pension’s app to manage their accounts thereby making transactions online.
NLPC Pension Fund Administration
NLPC Pension Fund Administration was incorporated on January 19, 2005, and received its license as a PFA in 2006. The firm is licensed by the National Pension Commission (PenCom) to administer pension funds. The firm offers its services not only to organizations or businesses but to individuals. NLPC Pension Fund Administration offers various financial plans such as the Micro pension plan which is open to artisans and self-employed individuals. There is also a plan for employees in the private sector under the Defined Benefits Scheme (DBS). NLPC Pension Fund Administration is reputed for keeping to its promise of paying retirement benefits to its qualified clients.
LeadWay Pensure was incorporated in 2004 and has since then positioned itself as a top pension fund administrator in Nigeria. The company offers a wide range of retirement plans to its customers. One of which is the Additional Voluntary Contributions (AVC) which gives customers access to 50% of the total sum of their account. Customers can also withdraw from the AVC account once every 2 years. There is also the Micro Pension Scheme which is targeted towards those working in the informal sectors. Currently, LeadWay Pensure has one of the largest customer base in Nigeria. Leadway Pensure is one of the most capitalized Pension Fund’s Administration in Nigeria with a shareholder’s fund in excess of N4.0 billion without losses.
Fidelity Pension Managers Limited
Fidelity Pension Managers Limited is one of the top pension fund administrators in Nigeria. Fidelity Pension Managers has a have a mobile app from which allows you to manage your pension account online and make the necessary enquiries from there. You can also use this app to calculate how much your expected pension should be at the end of your working years. Fidelity Pensions offers a voluntary contribution plan to help its clients achieve their retirement goals. If one loses his or her job while running a Retirement Savings Account with Fidelity Pension Managers, the firm provides such with a fraction of their savings for support till they get another job. Fidelity Pension Managers is licensed by the National Pension Commission and has received global recognition as the best Pension Fund Administration in the country
These are Pension Fund Administrations you can trust with your Retirement Savings plans in Nigeria.