Access ARM Pensions Expands Retirement Options for Nigerians Through Personal Pension Plan and Dollar Fund VII Across the Country

Access ARM Pensions is doubling down on its mission to widen retirement savings access in Nigeria, placing fresh emphasis on two key offerings — the Personal Pension Plan and its dollar-denominated RSA Fund VII.

The company says both products are becoming increasingly important as Nigerians rethink how they save for retirement in an economy shaped by currency volatility, inflation pressures, and a growing informal workforce.

The renewed focus came during a recent webinar themed Understanding the Personal Pension Plan and Dollar Fund VII, where company executives broke down how the two options work and why they matter now more than ever.

Why the Conversation Around Pensions Is Changing

Nigeria’s pension landscape has come a long way since the Pension Reform Act first reshaped the system in 2004.

Assets under management across the industry have grown into the trillions of naira, and participation under the Contributory Pension Scheme has steadily increased.

But there’s still a major gap. Millions of Nigerians — especially those in the informal sector, small businesses, and self-employment — remain outside the traditional pension net.

Add to that the reality of exchange rate fluctuations and global investment opportunities, and it’s clear that contributors are looking for more flexibility and protection.

That’s where Access ARM Pensions says its updated offerings come in.

Personal Pension Plan Targets the Underserved

Speaking during the webinar, Maryam Musa-Amzat, Unit Head of the Private Client Desk, described the Personal Pension Plan as part of the industry’s answer to shifting economic realities.

According to her, the plan is designed to be resilient and adaptable, giving contributors more confidence in their long-term savings while staying fully compliant with regulatory requirements.

The Personal Pension Plan — formerly known as Micro Pensions — operates under the Pension Reform Act 2024.

It is structured primarily for self-employed individuals, informal sector workers, and employees in organisations with fewer than three staff.

It also allows contributors already enrolled in the mandatory Contributory Pension Scheme to make additional voluntary contributions.

In simple terms, it offers flexibility. Contributors can save at their own pace, rather than being locked into rigid monthly deductions typical of formal employment structures.

How the Contributions Work

Ireti Ishola, Head of Strategy at Access ARM Pensions, explained that contributions under the Personal Pension Plan are divided into two portions — a contingent portion and a retirement portion.

The contingent portion can be accessed under specific conditions, while the retirement portion remains preserved for long-term use.

There’s also a tax structure attached. Withdrawals made before five years attract tax on the income earned.

However, if funds remain invested for more than five years, withdrawals become tax-exempt.

That incentive, the company argues, encourages discipline while still giving contributors breathing room when necessary.

RSA Fund VII Brings Dollar Exposure Into the Mix

While the Personal Pension Plan focuses on inclusion, RSA Fund VII addresses another growing concern — currency risk.

Chief Investment Officer Wale Okunrinboye described the dollar-denominated fund as ideal for contributors looking to diversify their portfolios and protect long-term savings from exchange rate volatility.

The fund invests in US dollar-denominated assets, including bonds, money market instruments, corporate and supranational bonds, as well as SEC-registered specialist funds such as real estate, infrastructure, and private equity.

For Nigerians in the diaspora or contributors seeking foreign currency exposure, this option provides a structured and regulated pathway to achieve that goal.

Regulatory Backing and Consumer Protection

Access ARM Pensions stressed that both products operate within guidelines set by the National Pension Commission.

Zainab Bello, Head of Benefits Administration, noted that the Personal Pension Plan aligns with the Commission’s objective of expanding pension coverage — particularly within the informal sector — while maintaining strong consumer protections.

Clear rules govern onboarding, tax treatment, withdrawals, and disclosures.

The goal, according to the company, is to strengthen trust in the pension system and ensure transparency.

A Growing Footprint in Nigeria’s Pension Industry

Access ARM Pensions currently manages over N4 trillion in pension assets on behalf of more than two million Retirement Savings Account holders.

That scale places it among the key players shaping conversations about sustainable retirement planning in Nigeria.

The firm’s leadership says expanding flexible savings options is essential if the country is to deepen financial inclusion and ensure more Nigerians retire with dignity.

What’s Next?

Industry observers will be watching how quickly uptake grows for both the Personal Pension Plan and RSA Fund VII.

If awareness improves — particularly among informal workers and Nigerians abroad — participation could expand significantly.

The broader question is whether more pension administrators will introduce similar hybrid and foreign currency options, potentially reshaping competition within the sector.

As economic conditions continue to evolve, retirement planning in Nigeria may become less about one-size-fits-all solutions and more about tailored, diversified strategies.

Summary

Access ARM Pensions has reaffirmed its commitment to expanding retirement savings options through its Personal Pension Plan and dollar-denominated RSA Fund VII.

The Personal Pension Plan targets informal sector workers, self-employed individuals, and those seeking voluntary additional savings under the Pension Reform Act 2024.

Contributions are split into contingent and retirement portions, with tax incentives tied to long-term investment.

Meanwhile, RSA Fund VII offers US dollar exposure to help contributors hedge currency risk through diversified foreign investments.

With over N4 trillion in assets under management and more than two million account holders, Access ARM Pensions is positioning itself at the forefront of flexible and inclusive retirement planning in Nigeria.