Access ARM Pensions has reaffirmed its commitment to broadening access to long-term retirement savings through its Personal Pension Plan and newly introduced dollar-denominated pension fund, RSA Fund VII.
The commitment was restated at a webinar themed “Understanding the Personal Pension Plan and Dollar Fund VII,” organised to deepen public awareness of flexible pension options and promote financial inclusion, including among Nigerians in the diaspora.
Speaking at the session, the Unit Head, Private Client Desk, Maryam Musa-Amzat, said both products reflect the industry’s response to changing domestic and global economic realities.
“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 disclosed that the firm currently manages over N4tn in pension assets on behalf of more than two million Retirement Savings Account holders.
The Head of Strategy, Ireti Ishola, explained that the Personal Pension Plan, formerly known as Micro Pensions, is an enhanced voluntary 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, and contributors under the Contributory Pension Scheme seeking additional flexible savings.
“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 are divided into a contingent portion and a retirement portion. Withdrawals made before five years attract tax on income earned, while those made after five years are tax-exempt.
On the dollar-denominated option, the Chief Investment Officer, Wale Okunrinboye, described RSA Fund VII as suitable for contributors seeking long-term foreign currency earnings and portfolio diversification.
“The Dollar Fund is designed for contributors looking to hedge currency risk over the long term. Investments are spread across 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 said.
Meanwhile, the Head of Benefits Administration, Zainab Bello, noted that the Personal Pension Plan aligns with the objectives of the National Pension Commission to expand pension coverage, particularly in the informal sector.
She added that the plan’s guidelines provide clarity on onboarding, withdrawals, tax treatment and disclosures, thereby strengthening transparency and confidence in the pension system.
