Top 10 pension companies in Nigeria (2024)

A pension is an income that a retiree receives to meet their needs and desires as they grow older. Everyone reaches a moment in their lives when they can no longer work, and a pension keeps you afloat at that time. 

Have you ever wondered which pension firms have the best reputations for providing a secure retirement? We’ve developed a list just for you. 

What are pension companies?

Pension fund administrators are also known as pension companies.

They are allowed to handle pension money and assets for individuals and organizations within the terms of the pension law.

Pension fund management entails keeping custody of and investing pension money in order to increase wealth and pay for workers’ retirements.

Experienced pension fund managers will make a successful pension company.

A company like this must also have a track record of excellent investment returns and asset management performance.

A pension plan works by putting a certain percentage of an employee’s monthly take-home pay into a retirement savings account and investing it on the person’s behalf so that, over time, when the money grows significantly, it may be utilized to provide the employee with a source of income when they retire.

Best pension companies in Nigeria

The top 10 pension companies in Nigeria are shown below, based on their annual performance:

1. AXA Mansard Pension Limited

Axa Mansard, based in Lagos’ Victoria Island, has been in operation since 2006 and has risen to become one of the country’s largest pension providers. 

The company’s numerous pension packages are deliberately designed to satisfy the needs of its customers based on their business or occupation.

Individuals who are self-employed can also benefit from the Micro Pension plan by contributing to their retirement (MPP). The MPP is customer-friendly, adaptable, and practical.

2. Arm pension manager limited

Arm Pensions is a part of the Asset and Resource Management Company Group, a leading investment and pension fund management firm with a solid reputation.

The firm is also recognized for being one of the first pension administrators to be licensed by the National Pension Commission (PenCom).

The firm offers free lectures to people in order to educate them about planning their life after retirement. 

Another advantage of utilizing Arms pension administrators is that they provide pension benefits to their retirees in the event of a temporary loss of employment or layoff.

A retirement savings account can be opened by an individual or company, they have a pension fund that is considered among the best with several plans depending on the choice you make.

3. Oak pension

Oak Pension was founded in 2004 and is a significant pension fund manager in Nigeria. The firm is well-known for its ability to deploy pension funds to maximize returns for contributors. Right now, they have a 13.47 percent return rate.

Their pension packages include the following:

A Retirement Savings Account: This is a type of mini-retirement plan account that is used to save for retirement.

Administration and payment of benefits: This has to do with monitoring and distributing rewards to RSAholders.

Voluntary contributions: These are additional contributions that you can make as an RSA holder prior to retirement that are either added to your balance at retirement or handled independently.

Management of Defined Benefit Schemes: The amount you receive as a pension in a defined benefit scheme is determined by the number of years you worked and the total pay you received.

Retirement planning and advisory services: This entails providing customers with free and genuine guidance.

4. Leadway Pensure

The head branch of Leadway Pensure, which was founded in 2004, is located at 121/123 Funsho Williams Avenue in Surulere, Lagos. the company is loved by customers because it provides a wide range of flexible and customer-friendly post-retirement support services.

Leadway also has an efficient strategy for tracking the overall performance of numerous financial securities. Leadway protects long-term investments while while optimizing prospective rewards.

Their experience, transparency and expertise makes them fulfill their promises of providing their clients with excellent and exceptional service. They are a reputable firm with business ethics that are professional and driven by their level of unflinching integrity.

5. Crusaders Sterling Pension Limited

Crusader Sterling has been a household name since its beginning in 2004. In the past, the organization has also been recognized as Nigeria’s best-performing pension administrator. 

The company is well-known for its unique customer care service, which provides consumers with adequate solutions to safeguard their assets.

One of its most appealing features is the excellent ranking on investment returns and the entrepreneurial skills and opportunities they make available for people.

They have been there through their parent company which had a pedigree of managing pensions for over 74 years.

They are reputed for outstanding customer service and have been one of the major bodies leading PFA for higher returns on assets under management for years now.

They won an award for the best-performing pensions fund administrator in 2014.

6. NLPC Pension Fund Administrator Limited

The only purpose of the NLCP pension, which is based in Anthony, Lagos State, is to ensure a comfortable future for workers by assuring a steady source of income after retirement through good administration of their allotted pension fund.

The firm is also noted for its agile workforce, outstanding service delivery, corporate governance, and a technology-enabled pension fund administration service.

7. VGP Pension Limited

Previously, the VGP (Veritas Glanvills Pensions) was known as the FUG pension. Retirement savings accounts (RSA), additional voluntary contributions (AVC), portfolio management, benefits administration, and pension counseling services are just a few of its perks.

The organization is well-known for its high-quality service and outstanding customer service.

8. Sigma Pensions

Sigma Pensions was established in 2005 after receiving a license as a pension fund administrator in 2004. They’ve grown quickly in recent years. They administered the retirement accounts of nearly 780,000 contributors as of December 2020.

In addition, they have paid out over 28 billion Naira in benefits to over 11,000 customers. This organization is without a doubt one of Nigeria’s best pension fund companies.

9. Fidelity Pension Managers Limited

Fidelity Pension, formerly known as Alliance Management Limited, has as its primary purpose the provision of a secure and satisfying pension service for a better retirement. The company’s paid-up share capital is 2 billion Naira, which meets the 1 billion Naira minimum share capital requirement for pension fund administrators.

10. Pension Alliance Limited (PAL pension)

Pal pension is jointly owned by African Alliance Insurance Company Limited and First Securities Discount House (FSDH) Merchant Bank. The firm has been in business since 2005 and has over 13 years of professional experience handling pension funds.

According to the pension reform statute passed in 2004, their services primarily concerned the management and payment of employees’ retirement savings in Nigeria. Pal Pension has a client base of around 450,000 people.


Eventually, everyone will retire, to enjoy your retirement, one must have a pension plan.

If you want to enjoy retirement to the utmost, follow these tips and choose the most suitable pension manager. Hopefully, the information above will aid you in making the best choices possible, resulting in a joyful retirement.

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Iniobong Umoh

Iniobong Umoh

Iniobong Leroi Umoh is a storyteller, techie, and content writer with He is enthusiastic about Tech, Finance, and Research. His works have been featured on different online and offline platforms.

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