Access ARM Pensions drives dollar Fund VII as hedge against currency risks

… PPP to broaden inclusion

Access ARM Pensions has reiterated its commitment to expanding access to long-term retirement savings through the Personal Pension Plan (PPP) and its dollar-denominated pension fund, RSA Fund VII, as both products gain increasing relevance within Nigeria’s evolving pension industry.

The Pension Fund Administrator (PFA) at its recent webinar titled “Understanding the Personal Pension Plan (PPP) and Dollar Fund VII,”, said it was aimed to deepen public understanding of flexible pension planning options and promote broader financial inclusion across different segments of the economy, not excluding Nigerians in the diaspora.

Speaking at the webinar, Maryam Musa-Amzat, unit head, Private Client Desk at Access ARM Pensions, said the two products represent 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.

Read also: Nigeria’s pension industry records N4.94trn annual gain

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, Ireti Ishola, head of Strategy at Access ARM Pensions, explained that the Personal Pension Plan, formerly known as Micro Pensions, is an enhanced voluntary pension arrangement established under the Pension Reform Act 2014.

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 (CPS) 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.

Modestus Anaesoronye is a leading Nigerian financial journalist with over two decades of experience reporting on the insurance and pension sectors across Nigeria and West Africa. He has held key editorial positions at major national media outlets, including The Comet, The Nation, and Financial Standard, and currently serves as a Senior Financial Analyst at BusinessDay Media Ltd.

A widely travelled reporter, he has covered industry developments in more than 14 countries across Africa and Asia.

Anaesoronye is a multiple award-winning journalist, honoured several times as Insurance Journalist of the Year and Pension Journalist of the Year by recognised industry bodies, including PensionScope and the Pension Fund Operators Association of Nigeria (PenOp), among others.

Join BusinessDay whatsapp Channel, to stay up to date