list of Nigeria pension fund Provider( Administrators PFA)

Nigeria Pension fund scheme covers all employees in the public service and the private sector of the economy of the Federation, the Federal Capital Territory. The pension scheme is contributory, fully funded, privately managed, third party custody of the funds and assets and based on individual accounts.

The main functions of Nigeria Pension fund  PFA are to open Retirement Savings Account (RSA) for employees; invest and manage pension fund assets; payment of retirement benefits and accounting for all transactions relating to the pension funds under their management.

The fulfill requirements for applications license to operate as a PFA is enshrined in Section 60 of the PRA 2014 which must be a limited liability company whose sole object is the management of pension fund assets.

The entire pension landscape is privately managed by a group of licensed companies which fall into one of the following, according to their role, structure and mode of operation.

1. Pension Fund Administrators (PFAs) :The Pension Fund Administrators (PFAs) have been duly licensed to open Retirement Savings Accounts for employees, invest and manage the pension funds in a manner as the Commission may from time to time prescribe.

To discourage frivolous applications and to ensure credibility, such company must have a paid up share capital of N150, 000,000 and demonstrate professional capacity to mange pension funds and administer retirement benefits.

2. Pension Fund Custodians (PFCs): The Pension Fund Custodians (PFCs) will be responsible for the warehousing of the pension fund assets. The PFAs shall not be allowed to hold the pension funds assets. The employer sends the contributions directly to the Custodian, who notifies the PFA of the receipt of the contribution and the PFA subsequently credits the retirement savings account of the employee.

The custodian shall hold pension fund assets on trust for its clients. For the same reason adduced in the case of the PFA, a stakeholder of the Custodian must be a licensed financial institution and have a minimum net worth of N5,000, 000, 000 and a total balance sheet of not below N125, 000,000,000

3. Closed Pension Fund Administrators (CPFAs): Closed Pension Fund Administrators (CPFAs) are a category of Pension Fund Operators Licensed by PENCOM under provisions of the PRA 2014. The CPFA License was granted in accordance with the provisions of Section 51 of the Act, to qualifying owner-managed Pension schemes that existed prior to the Pension Reform in 2004

CPFAs are subject to provisions of the PRA and rules of their Approved Existing Schemes, and other guidelines as specified by PENCOM from time to time.

 

LIST OF PENSION FUND ADMINISTRATORS IN NIGERIA

1. AIICO Pension Managers Limited

Adress: Plot 2, Oba Akran Avenue
Ikeja, Lagos

2. APT Pension Fund Managers Limited

Address: Plot 266 Cadastral AO
Central Business District
Garki, Abuja

3.ARM Pension Managers Limited

Adress: No. 5, Mekunwen Road
Off Oyinkan Drive
Ikoyi, Lagos

4. CrusaderSterling Pensions Limited

Address: No. 14, Keffi Street
South West Ikoyi, Lagos

5. FCMB Pensions Limited

Address: Cadastal AO
Central Business District, Abuja

6. Fidelity Pension Managers

Address: 2 Adeyemo Alakija Street
Victoria Island, Lagos

7. First Guarantee Pension Limited

Address: Adebola House, 3rd Floor
38/40, Opebi Road
Opebi- Ikeja
Lagos

8. EI-Anchor Pension Managers Limited

Address: No. 22, Otukpo Street
Off Gimbiya Street
Area 11
Garki, Abuja

9. Investment One Pension Managers Limited

Address: Plot 871, Tafawa Balewa Way
Opposite NICON Luxury Hotel
Garki Area 11
Abuja

10. Leadway Pensure PFA Limited

Addresss: 121/123 Funsho Williams Avenue
Surulere, Lagos

11.Nigerian University Pension Management Company (NUPEMCO)

Address: Murjanatu House (First Floor)
Number 1, Zambezi Crescent, Off Aguiyi Ironsi Street
Maitama – Abuja

 

12. NLPC Pension Fund Administrators Limited

Address: Location: 312A,
Ikorodu Road, Anthony
Lagos

13. NPF Pensions Limited

Address: NPF Pensions House
Plot 3820, R.B. Dikko street, Off Shehu Shagari Way
Opposite Force Headquarters
Central Business District (CBD)
Abuja

14. OAK Pensions Limited

Address: 266 Muritala Mohammed Way
Yaba, Lagos

15. Pensions Alliance Limited

Address: Plot 289 Ajose Adeogun Street,
Victoria Island, Lagos

16. Premium Pension Limited

Address: No. 4, Agwu Street
Off Faskari Crescent
Area 3
Garki – Abuja

17. Radix Pension Managers Limited

Address: 26 Adeola Hopewell Street
Victoria Island
Lagos

18. Sigma Pensions Limited

Address: No. 29 Durban Street
Off Adetokunbo Ademola Crescent
Wuse II – Abuja

19. Stanbic IBTC Pension Managers Limited

Address: Plot 1678, Olakunle Bakare Close
Victoria Island,
Lagos

20. Tangerine Pensions Limited

Address: No 21B, Olosa Street
Victoria Island
Lagos

 

21. Trustfund Pensions Limited

Address: Plot 820/821
Labour House
Behind Ministry Of Finance
Central Business District
Abuja

22. Veritas Glanvills Pensions Limited

Address: 26 Commercial Avenue
Yaba, Lagos

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