Access ARM Pushes Uptake of Personal Pension Plan For Long-term Savings Resilience

Access ARM Pensions has stepped up advocacy for wider adoption of its Personal Pension Plan (PPP) and dollar denominated RSA Fund VII, positioning both products as strategic tools to deepen pension penetration and strengthen long term savings resilience under Nigeria’s evolving regulatory framework.
The Pension Fund Administrator made the case at a webinar themed “Understanding the Personal Pension Plan and Dollar Fund VII,” where it outlined policy and investment considerations shaping the next phase of pension industry growth, including inclusion of informal sector workers and Nigerians in the diaspora.
Unit head, Private Client Desk at Access ARM Pensions, Maryam Musa Amzat, said the two offerings reflect the industry’s response to shifting domestic and global economic realities. According to her, the Personal Pension Plan and Dollar Fund VII provide contributors with more adaptable retirement planning options while remaining fully aligned with regulatory requirements.
“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.
Musa-Amzat noted that Access ARM Pensions currently manages over N4 trillion in pension assets on behalf of more than two million Retirement Savings Account (RSA) holders, underscoring the firm’s role in shaping conversations around sustainable and inclusive retirement planning.
From a strategic perspective, head of Strategy at Access ARM, Ireti Ishola, Pensions, explained that the Personal Pension Plan, formerly known as Micro Pensions, is an enhanced voluntary pension arrangement established under the Pension Reform Act 2024.
According to him, the scheme targets self-employed individuals, informal sector workers, employees in organisations with fewer than three staff, as well as contributors under the Contributory Pension Scheme seeking additional flexible savings options.
“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 added that contributions under the plan are split between a contingent portion and a retirement portion, noting that withdrawals made before five years attract tax on income earned, while withdrawals after five years are tax-exempt.
Providing further insight into the dollar-denominated investment option, Wale Okunrinboye, chief investment officer at Access ARM Pensions, described RSA Fund VII as suitable for contributors seeking portfolio diversification and long-term foreign currency earnings.
“The Dollar Fund is designed for contributors looking to hedge currency risk over the long term. Investments are spread across U.S. 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.
On regulatory considerations, Zainab Bello, Head of Benefits Administration at Access ARM Pensions, said the Personal Pension Plan aligns with the objectives of National Pension Commission (PenCom) to expand pension coverage, particularly within the informal sector, while strengthening 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.