Top 10 PFAs in Nigeria and Their Offerings

Top 10 PFAs in Nigeria and Their Offerings

Pension funds

When it comes to planning for retirement, having a trusted partner by your side can make all the difference. That’s where a Pension Fund Administrator (PFA) comes into play. A PFA serves as a crucial figure in helping individuals safeguard their financial future and achieve a comfortable retirement. In this blog post, we will explore the top PFAs in Nigeria and their offerings.

Analyzing the Services and Offerings of Leading PFAs in Nigeria

If you’re approaching retirement, or ready to kick start saving for retirement, consider these leading PFAs in Nigeria.

1) Nigerian Police Force (NPF) Pensions

According to Nairametrics, the NPF pension was the best-performing Pension Fund Administrator (PFA) for Q1 2023, with all four of their funds (I, II, III, and IV) outperforming all others. The NPF’s main aim is to deliver exceptional customer service and expert financial guidance to our stakeholders while implementing investment strategies aimed at maximizing returns on their pension assets.


  • Investment and Funds Management
  • Nigerian Social Insurance Trust Fund (NSITF) Transfer
  • 24/7 Customer Service
  • Web-based client access
  • Financial Planning and
  • Retirement advisory

2) Fidelity Pension Managers

Fidelity Pension Managers is a leading Pension Fund Administrator (PFA) in Nigeria. As part of the Fidelity Bank Group, Fidelity Pension Managers specializes in managing pension funds and providing retirement solutions to individuals and organizations.

They place a strong emphasis on customer satisfaction, striving to provide quality service and support to its stakeholders. They also aim to meet the unique needs of each client by offering personalized retirement solutions and financial advice.


  • Retirement Savings Act.
  • Voluntary Contribution
  • Micro Pension
  • Cross-border Pension
  • Retirement Advisory

3) CrusaderSterling Pensions

CrusaderSterling Pensions Limited, a member of the Custodian Investment Plc group, is a prominent Pension Fund Administrator (PFA) in Nigeria. They are known for providing better returns to our stakeholders, as seen by the excellent performance of the funds under our management over the last decade.


  • Retirement Savings Account
  • Additional Voluntary Contribution
  • Retiree Account
  • Gratuity / Legacy funds
  • Benefit Administration
  • Transfer Window
  • Micro Pensions
  • Ethical Funds

4) Stanbic IBTC Pensions

Stanbic IBTC Pension Managers Limited is a renowned Pension Fund Administrator (PFA) in Nigeria. As a subsidiary of Stanbic IBTC Holdings PLC, the organization specializes in providing comprehensive pension fund administration and investment management services.

They adopt a proactive approach to investment management. They also employ skilled investment professionals who diligently manage pension funds and apply rigorous risk management strategies. By leveraging their expertise and market insights, they aim to generate attractive returns on pension assets while mitigating risks.


  • Retirement Savings Accounts
  • Micro Pension Accounts
  • Voluntary Contributions
  • Retirement

5) Oak Pensions

Oak Pensions Limited was established to engage in Pension Fund Administration in accordance with the Pension Reform Act of 2014. The company’s primary emphasis and advantage lie in leveraging advanced information technology for the optimal management, operations, and investment of pension funds, thereby maximizing returns for contributors.

With a strong presence in the pensions industry, Oak Pensions Limited has implemented proactive marketing tactics to attract the existing client base of its promoters while also venturing into other segments of the pension market. To safeguard the pension fund assets, the First Pensions Custodian acts as a trustee, holding them in trust for Oak Pensions Limited.


  • Retirement Savings Account
  • Voluntary contributions
  • Benefit Administration & Payment
  • Defined Benefit Scheme Management
  • Retirement planning and advisory services

6) PAL Pensions

Pensions Alliance Limited is a joint venture between First Securities Discount House Limited (FSDH) (now known as FSDH Merchant Bank) and African Alliance Insurance Company Limited.

They are a licensed Pension Fund Administrator with over 13 years of professional experience in Pension Funds Administration. Their top objectives include giving Nigerians the confidence of a financially secure future, building a brand that will be the epitome of performance, service, and trust., and achieving investment return in the top performance quartile of the industry.


  • Retirement Savings Account (RSA) Management
  • Pension Fund Administration
  • Pension Advisory Services
  • Retirement Planning
  • Voluntary Contributions:
  • Retiree Support Services

7) FCMB Pensions

FCMB Pensions Limited is a private limited liability company incorporated on 7th of April 2005. It is duly licensed by the National Pension Commission (PenCom), to carry on business as a Pension Fund Administrator (PFA) as defined under the Pension Reform Act, 2014. FCMB Pensions is a subsidiary of FCMB Group Plc.

Their mission is to provide pension services that support individuals in building financial security for their retirement.


  • Retirement savings account
  • NSITF funds transfer
  • RSA fund
  • Retiree fund
  • Ethical/Non-Interest Fund
  • Retirement planning
  • Defined benefit scheme
  • Micro pension
  • Voluntary contributions
  • RSA transfer window

8) Access Pensions

Access Pensions, (a subsidiary of the Access Corporation) is a licensed Pension Fund Administrator (PFA), which resulted from the business combination of First Guarantee Pension Limited and Sigma Pensions Limited.

Their approach to investing brings highly skilled and experienced investment professionals with the right mix of technology to provide their clients with competitive and consistent returns over the long term.


  • Retirement savings account fund
  • Additional voluntary contribution
  • Multi-Fund structure
  • Benefits application
  • RSA transfer

9) ARM Pensions

ARM Pension Managers (PFA) Ltd is one of the first seven Pension Fund Administrators (PFA) granted a license by the National Pension Commission in December 2005. It is also part of the Asset & Resource Management Company Limited (ARM) Group, one of Nigeria’s most prominent and respected financial service brands.

They aim to be the fastest growing, most efficient, and customer-friendly PFA in Nigeria, consistently delivering value to their stakeholders, and are driven by ambition, proximity, impact, and truth.


  • Micro Pension Scheme
  • Voluntary Contribution
  • Benefits Payment

10) Leadway Pensions

Leadway Pensions is a Nigerian pension fund administrator that specializes in providing retirement and pension solutions. They offer various pension products and services to individuals and organizations.


  • Retirement Savings Account (RSA)
  • Voluntary Contributions
  • Retiree Life Annuity
  • Investment Management
  • Customer Support

Rounding up

To determine the current 10 best PFA in Nigeria, it is advisable to conduct thorough research, consider recent industry rankings, and analyze factors such as performance, customer satisfaction, range of services, investment options, fees, and overall reputation.

In this blog post, we have provided the top 10 after reviewing certain factors like performance growth, offerings & customer support. Remember, selecting a reputable and reliable PFA is crucial for securing your financial future and ensuring a comfortable retirement.

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