Access ARM Pensions has reaffirmed its commitment to widening access to long-term retirement savings through its Personal Pension Plan and the dollar-denominated RSA Fund VII, as both offerings gain relevance in Nigeria’s evolving pension landscape.
The firm made this known during a recent webinar themed ‘Understanding the Personal Pension Plan and Dollar Fund VII’, where executives outlined how the products are designed to meet changing economic realities and promote financial inclusion, including among Nigerians in the diaspora.
Maryam Musa-Amzat, Unit Head of the Private Client Desk, said the two products reflect the industry’s response to domestic and global financial shifts.
“The Personal Pension Plan and Dollar Fund VII offer contributors more resilient and adaptable options for long-term retirement planning. They are designed to strengthen confidence in pension savings while remaining fully aligned with regulatory frameworks,” she said.
She added that the company currently manages over N4tn in pension assets for more than two million Retirement Savings Account holders, highlighting its scale within the industry.
Providing more context, Head of Strategy Ireti Ishola explained that the Personal Pension Plan, formerly known as Micro Pensions, is a voluntary scheme established under the National Pension Commission framework and backed by the Pension Reform Act 2024.
According to him, the plan is targeted at self-employed individuals, informal sector workers and employees in organisations with fewer than three staff. It also caters to contributors under the Contributory Pension Scheme who wish to make additional voluntary savings.
“The Personal Pension Plan expands pension coverage by providing a structured, yet voluntary, savings option for individuals outside traditional employment, while also allowing contributors to make additional provisions beyond the mandatory scheme,” Ishola said.
He noted that contributions are divided into a contingent portion and a retirement portion. Withdrawals made before five years attract tax on income earned, while withdrawals after five years are tax-exempt.
On the investment side, Chief Investment Officer Wale Okunrinboye described RSA Fund VII as a diversification tool for contributors seeking foreign currency exposure.
“The Dollar Fund is designed for contributors looking to hedge currency risk over the long term. Investments are spread across US dollar-denominated bonds, money market instruments, corporate and supranational bonds, as well as SEC-registered specialist funds such as real estate, private equity, and infrastructure,” he said.
Addressing regulatory safeguards, Head of Benefits Administration Zainab Bello said the Personal Pension Plan aligns with efforts to broaden pension coverage and strengthen consumer protection.
“The PPP guidelines provide clear rules on onboarding, withdrawals, tax treatment, and disclosures. This improves transparency, protects contributors, and ultimately strengthens confidence in the pension system,” Bello said.
Industry observers say the renewed focus on flexible and diversified pension products reflects growing demand for tailored retirement solutions in Nigeria’s dynamic economic environment.
