Are you wondering about the best pension companies in Nigeria? Well, good guess because this article will list out some of the top best ranking pension companies here in Nigeria.
If you plans to retire soon or you just started your career as a working-class individual and you need to secure your future via any of the good pension companies out there.
So, let’s get into business but before I list out the best pension companies in Nigeria, I also would like to explain what exactly pension is in Nigeria.
What is pension in Nigeria?
Well, In two words, a pension is a fund of money which is added during the employee`s years. Therefore, when a person retires, this fund will provide necessary support during the years of retirement. It is usually, a fixed sum of money contributes to the pension fund and then becomes available during the retirement years.
According to the current Pension Act of Nigeria, people in private and public sectors are to contribute 7% from the employee paycheck. The same law dictates that the next-of-kin will receive the pension of the employee. Moreover, this act includes various insurance policies for employees.
Nigerians are free to choose a pension plan provider. It may help them to understand the variations of pensions that they about to receive. Moreover, it helps to establish stability for people as they have a freedom to choose their own pension plan! That is pension companies.
Let`s take a look at top 10 pension companies in Nigeria!
Best Pension Companies in Nigeria
1. ARM Pensions Managers
The first in the list of the best pension companies in Nigeria is ARM Pensions Managers (Asset & Resource Management Holding Company).
This company was established in 1994. The company has grown over the years to become one of the leading investment management firms in our dear country, Nigeria.
ARM has always had a successful track record of protecting and growing investments and it has authorized the payment of over N1.2 billion since its establishment and even more than that till date.
As a dully registered company, they boast of highly experienced professionals that would put you through on any pension plan you want.
The company also has a successful record of protecting and growing investment management firms in the country.
2. AXA Mansard Pensions Ltd
This company is located at Ahmadu Bello Road of Victoria Island. It’s one of the major pension companies in Nigeria. They have a diversified pension package that can be quite effective for various types of wages and it is one of the major pensions companies or fund managers in Nigeria.
As an employer, you are required to register all your employees within AXA Mansard group. Moreover, as an individual too, you can also open your retirement plan out of several variants. It’s also possible to include the voluntary contribution option. It’s an especially interesting option for people who set particular goals for their pension.
3. CrusadersSterling Pensions Ltd
Crusaders Sterling Pension was incorporated in 2004, it is one of the leading pension companies in the country. The company was selected as the best pension fund administrator in Nigeria in 2014.
No doubt, CrusaderSterling educates their retirees on life after retirement, entrepreneurship skills and opportunities. They also counsel their customers on the best retirement savings account which could either be an annuity or programmed withdrawal.
CrusadersSterling Pensions Ltd is one of the top leading pension companies that is reliable and can be trusted in Nigeria today. It is on record that in 2014, the company was selected as the best performing pension fund administrator in Nigeria and has a positive rating on returns on investment (ROI). Automatically evaluated to be one of the best pension companies in Nigeria.
One thing I personally love about this pension firm is the entrepreneurship skills and opportunities they provide, lectures they give retirees on life after retirement and their fund price which is N3.0184 (the highest in the industry).
CrusadersSterling also offers options of both retirement savings account and voluntary contributions for employees, counseling their customers on the best retirement plan to opt for.
The Crusaders Sterling capital includes voluntary and retirement contribution. The voluntary contribution provides various packages for people who want to set up different goals for their pensions. For today, they have the highest fund price in the industry.
4. Oak Pensions
The Oak Pensions was established in in 2014 as a part of the Pension Reforms Act. They have various products, like voluntary contribution, retirement savings account, benefits of administrations and advisory services.
Since 2014 and they have gone on to become a leading company as far as retirement is concerned.
They specialize their business in handling Retirement Savings Account, Voluntary contribution, Defined Benefit Scheme Management, Benefits Administrations and Payment, Retirement Planning and Advisory Services, etc as mentioned above.
Oak Pensions has since emerged as one of the trusted pension companies and have the following customer-friendly products at their disposal:
- Retirement Savings Account
- Defined Benefit Scheme Management
- Voluntary contribution
- Retirement Planning & Advisory Services
Oak Pensions are known to apply modern information technology to their management, operation, and investment of pension funds that increase optimal yield to contributors.
5. NLPC Pension Fund Administrator
This company was incorporated into the pension system of Nigeria in 2005 and also received a license as a PFA in 2006. NLPC has offices across all states of the country. Therefore, in a lot of parts of the country, this organization is synonymous with the official pension administration.
NLPC PFA is a tested and trusted pension company in Nigeria today and since their time in business, clients have had no cause for compliants. Visit the NLPC PFA website here.
6. LeadWay Pensure
Leadway is one of the top pension companies in Nigeria that provides top quality services in the country. They may offer a huge range of services connected with investments and customer support in Nigeria. Therefore, they have numerous customers across the country.
Leadway Pensure is located along Funso Williams Avenue in Surulere, Lagos. They are licensed by the National Pension Commission, and
7. FUG Pensions Limited
This company was licensed by the National Pension Commission in 2007. They are also known for their efficient service delivery. They operate in six regional offices across the country. Their paid share capital is N1.5 billion.
Their office is located at 26 Commercial Avenue, Sabo, Yaba but they have 6 regional offices across the country. Future Unity Glanvills (FUG) Pensions are known for their efficient service delivery.
Future Unity Glanvills (FUG) Pensions are known for their efficient service delivery and excellent customer service.
8. Fidelity Pension Managers Limited
Over the years, this organization was recognized globally as one of the best in the country. They also invest a lot of money into the new technologies, like mobile apps.
They have developed a mobile app with which you can monitor and oversee your pension account and make inquiries when necessary.
This app enables you to calculate how much your expected pension will be. They are tested and trusted when it comes to pensions management.
You can use their mobile app to keep track of your pension account easily, set retirement goals a monthly voluntary contribution to your existing pension plan.
An advantage of using this pension provider is that during your working years you lose your job, Fidelity Pension Managers will provide you with a fraction of your savings to assist you till you get a new job.
9. Stanbic IBTC Pension Managers
Stanbic IBTC Pensions was incorporated as a part of IBTC Bank in 2004. They have a proven record of finance tracking. Therefore, they authorize full protection of customers` data. They have more than 200 offices across the country.
Stanbic IBTC Pension Managers have an authorized paid-up capital of N1 billion. They have a proven track record in money management and the protection of customer’s wealth.
Stanbic IBTC Pension Managers is a pension provider used virtually by most top organizations in Nigeria. This is due to the fact that they have been in the industry for close to 150 years. They were incorporated in 2004 as a subsidiary of Stanbic IBTC Bank. The company has since paid an authorized capital of N1 billion as stated above.
They also have a successful track record in money management and the protection of customer’s wealth. To contact them for a retirement savings account, you can visit their website and chat with any of their representatives who are always available online or at any of their 217 locations within the country.
10. Sigma Pensions
They have been in business since August 2004, and granted full license to operate as a PFA in December 2005. Sigma pensions have grown in leaps and bounds.
Sigma Pensions is one of the largest pension administrators which has grown up to 600 000 customers across the country. This company has paid up to over N1 billion. Their customer-friendly pension scheme which include:
- RSA Fund Management
- Retirees Fund Management
- Definite Benefit Scheme Management
- Voluntary Savings
- Pension Payroll
Your pension is one of the greatest choices to make. Therefore, there are many pension companies out there so choose your pension company wisely. Check the services and feedbacks of these companies. It will help you to make the right decision!
Also,the above listed best pension companies are sure to offer you the right pension plan and fund administrator that suits your needs.