$ 2.7 0 bn+
ARM Pensions is Nigeria’s largest independent pension fund manager, with over US$2.1 billion of pension assets under management.
Today, only 7% of adult Nigerians contribute to a pension scheme1. Pensions not only serve as a safety net for ageing Nigerians but can also make a huge impact on the households in which these individuals live – for both children and other family members – supporting education, healthcare and other necessary services. The aim of ARM Pensions, one of the largest fund administrators in Nigeria, is to build understanding and uptake of this essential service.
- EFINA Access to Financial Services in Nigeria 2020 Survey, 2021.
ARM Pensions provides pensions and retirement savings accounts reaching over four million Nigerians, of which two million are low-income or emerging consumers. Clients are served through 57 locations across all 36 states of Nigeria, with dedicated mobile offices reaching consumers in the most remote areas, and innovative digital channels ensuring swift access to accounts and assistance.
The LeapFrog, ARM Pensions partnership began in June 2018. The investment is a continuation of LeapFrog’s focus on pensions in the West African market, following its successful exit from Ghana’s Petra Trust in February 2018. LeapFrog worked closely with the Petra Trust team to grow the business to become the largest independent pensions provider in Ghana, achieving 76% GAGR over the period of LeapFrog’s investment. The investment also builds on LeapFrog’s partnership with ARM Group following a 2012 co-investment into ARM Life, a high-growth insurer.
Founded in 2005, ARM Pensions is one of the first Pension Fund Administrators (PFA) to be granted a license by the National Pension Commission. The company is majority owned by ARM Group, Nigeria’s largest and most respected non-bank financial institution, and the country’s largest independent asset manager.
LeapFrog’s team brings significant actuarial and operational skills to bear on the development of ARM’s retail presence, helping diversify and grow the business. LeapFrog has worked with ARM to bring in new leadership talent and support across management training, as well as to improve governance, financial reporting actuarial and technical services and human capital management.
ARM Pensions is one of many LeapFrog investments in Financial Services. Read more about our work in the sector.