Are you just starting out a career? Are you planning to retire soon? Or are you thinking of saving for posterity too? Well, one way to achieve a comfortable future is to save for the rainy days. And this is not just what you do through piggy banks, it’s long term plan for the future and the unborn generation.
The intention behind this article is to enlighten you on which company to work with considering your income in planning your retirement. No matter how young you claim to be, procrastination might also steal your future if you don’t plan it now. Hence, this article will take you through the 10 best pension management companies in Nigeria as you plan for retirement and unforeseen circumstances.
1. Stanbic IBTC Pension Managers
On the 25th of April, 2019, Stanbic IBTC Pension Managers Limited got the best asset/ fund management company in wealthy and society in West Africa award. They received this award after undergoing several evaluations. So, you can rest assured that they are one of the best pension managers in Nigeria you can trust.
The pension company is one of the subsidiaries of Stanbic IBTC Bank. It was established in 2004. The fact that they are used mostly by top organisations in Nigeria implies they have a proven track record of money management.
2. ARM Pension Managers
ARM Pension Managers an arm of Asset & Resource Management Company Limited (ARM) Group — one of the biggest and most reliable non-bank financial service provider in Nigeria, established in 1994. Since its approval as a Pension Fund Administrator by the National Pension Commission in 2005, it boasts of having an authorized share capital up to ₦1.2 Billion.
With the aim of creating a stressless lifestyle for retirees, ARM Pensions has their modus operandi around the preservation and security of pension assets and investment. Hence, they have a respectable record of professionals to guide you through the pros and cons of their pension plans.
3. LeadWay Pensure
Leadway Pensure, established in 2004, is one of Nigeria’s leading Pension Fund Administrators. It boasts of having a vast coverage on the national level with great foresight in the management of funds and pension administration for federal organisations to prominent private companies. It boasts of having an authorized capital up to ₦2 Billion. Leadway’s transparency combined with professionalism and technology has caused them a reputation for brilliant business ethics.
Their services include Retirement Savings Account which helps you save towards retirement and management of funds such as gratuity and legacy funds. But the most soothing offer is the Micro Pension — spans across the informal sector of Nigeria’s working population such as single professionals, SMEs owners, and artisans.
4. AIICO Pension Managers Limited
AIICO Pension Managers Limited was incorporated in 2005, however, they didn’t evolve into functionality until after being licensed as a Pension Fund Administrator in 2006. With a vision to be most effective customer-concerned PFA in Nigeria, AIICO Pension is regulated by smart and proven executives in all areas financial management.
Their services also include Retirement Savings Account which can be accessed online anytime. They also allow voluntary contributions asides the statutory monthly payment which implies that you can save more for the future. They also provide their investment philosophy which allows you to learn more about their policies.
5. AXA Mansard Pensions Limited
AXA Mansard Pensions Limited was incorporated under the name Penman Pensions Limited in 2006. However, in 2014, it was taken over by AXA Mansard because it had the highest share with the understanding of elevating the company more.
Having been licensed as a Pension Fund Administrator, it offers are for both public and private sector workers. Their services come with different plans that encourage you to have different saving goals for the future. These plans span into the education of your children, life savings, bonus life, life celebration and so on. Hence, companies can register with their employees with them and individuals can also.
6. CrusaderSterling Pension
Since its inception in 2004, CrusaderSterling Pension has risen to be one of the most reputable Pension Fund Administrators in Nigeria. In 2014, they were awarded best performing PFA in Nigeria and they have a positive review on Returns on Investment (ROI).
With the interest of their clients and prospective clients at heart, they offer a decent education for retirees on living after retirement via entrepreneurial skills opportunities possible opportunities. They also help with how their clients can manage their contributions and monitor their Retirement Savings Account and Voluntary Contributions.
7. Oak Pensions
Oak Pension was incorporated and licensed in 2006 as a Pension Fund Administrator. Having adopted a culture of professionalism, innovation and integrity, they boast of an enviable track record.
Oak Pension offers retirement planning and advisory services in order to choose the right plan that suits your income. Their services include Retirement Savings Account, Voluntary Contributions, Benefits Administration Payment and Defined Benefit Scheme Management. All these plans are to see to optimal advantages for their clients.
8. NLPC Pension Fund Administrator
NLPC PFA was incorporated in 2005 and wasn’t licensed until 2006 to administer pension funds. The vision to be a domineering administrator of pension funds has fostered its mission to ensure a bright future for their clients.
With offices across the nation, they have an authorized capital share of over ₦1 Billion. This is contributing to 59% ownership from corporate interests and 41% from private individual investors.
With exceptional customer servicing, they offer reliable team support, robust risk management and a topnotch ROI. This is backed up with up-to-date information technology that secures its customers’ data and funds.
9. Fidelity Pension Managers Limited
Fidelity Pension Managers Limited was incorporated in 2004 under the name Alliance Management Limited till it adopted the new name in 2007. With their governance being overseen by intellectuals, they provide rewarding pensions services for retirees. Hence, making them the best pension provider in Nigeria in 2016.
Their services include Retirement Savings Account, Voluntary Contributions and Micro Pension payment. They also offer to educate on retirement and planning and management of defined benefit scheme.
However, their transparency is a major stand out factor for them. They created a mobile app through which their clients can keep track of their pension account. Another major point is they promise to offer clients with a fraction of their savings should they lose their jobs before retirement.
10. Sigma Pensions
Sigma Pensions was licensed in 2005 as a Pension Fund Administrator after being incorporated in 2004. As of December 2019, their assets have risen up to ₦430 Billion with over 750,00 registered customers. This was after Actis — an international private equity investor — arose to be the majority shareholder.
They, like others listed here, also aim to have their clients meet their retirement goals. They ensured this by offering different pension administration from Retirement Savings to voluntary contributions and multi-fund schemes.
Since we all want to live long, retirement is inevitable. Old age happens but how much you have saved up for your next generation will cause a lasting memory of you on their hearts.
Having looked at these companies, by now, you should know which to follow and plan with. However, for the fear of the unknown and avoidance of the same, it is advisable you talk with any of this company’s representative before signing up. It is also advisable that you talk to a real person instead of having a virtual chat with a responsive chatbot.