By Ayomide Otitoju
Access ARM Pensions has reaffirmed its commitment to expanding long-term retirement savings through the Personal Pension Plan (PPP) and the newly launched dollar-denominated RSA Fund VII, highlighting their growing relevance in Nigeria’s evolving pension landscape.
The announcement came during a recent webinar titled “Understanding the Personal Pension Plan and Dollar Fund VII,” aimed at educating the public on flexible pension options and promoting financial inclusion for Nigerians at home and in the diaspora.
Maryam Musa-Amzat, Unit Head of the Private Client Desk at Access ARM Pensions, said the two products reflect the industry’s response to changing domestic and global economic realities. “The Personal Pension Plan and Dollar Fund VII provide contributors with resilient, adaptable options for long-term retirement planning, designed to boost confidence in pension savings while remaining fully aligned with regulatory frameworks,” she stated.
Access ARM Pensions currently manages over ₦4 trillion in pension assets for more than two million Retirement Savings Account holders, underscoring the company’s role in driving sustainable and inclusive retirement planning.
Ireti Ishola, Head of Strategy, explained that the Personal Pension Plan—formerly Micro Pensions—is a voluntary pension scheme under the Pension Reform Act 2024, targeting self-employed individuals, informal sector workers, small businesses, and contributors seeking additional savings options. “The PPP expands pension coverage outside traditional employment while allowing contributors to make supplementary provisions beyond the mandatory scheme,” he said. Contributions are split between contingent and retirement portions, with early withdrawals taxed if made before five years, and tax-free after five years.
On RSA Fund VII, Chief Investment Officer Wale Okunrinboye described it as a dollar-denominated option for contributors seeking portfolio diversification and long-term foreign currency earnings. “Investments include 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 explained.
Zainab Bello, Head of Benefits Administration, emphasized that the PPP aligns with the National Pension Commission’s objectives to broaden coverage and protect contributors, especially in the informal sector. “Clear rules on onboarding, withdrawals, tax treatment, and disclosures improve transparency, protect contributors, and strengthen confidence in the pension system,” she said.
