CrusaderSterling Pensions

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About Crusader Sterling Pensions

We are one of the leading Pension Fund Administrators (PFA) in Nigeria, incorporated on the 12th of October 2004. The company is supervised by the National Pension Commission (PENCOM).

Our PFA is owned by these Institutional Investors: Custodian Investment Plc, Sterling Asset Management and Trust Ltd, WSTC Financial Services Limited, and Ideal Insurance Brokers Ltd.

We are renowned for delivering superior returns to contributors and other stakeholders for many years and the first PFA to be assigned a Pension Fund Manager rating of “A” by Agusto & Co, Nigeria’s pioneer credit rating agency.


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Why Choose Us

We are Trusted by over 350k+ happy Customers

We invite you to join our teeming Contributors and take advantage of our exceptional service delivery, fund security and superior returns on pension fund management.

In retirement, there is usually an increase in expenses like medical bills, family events, and social functions. The size of retirement benefit payments used to cover these rising costs, depends on how well retirement funds were managed over time.

Over the last decade, we have consistently delivered superior returns on the Retirement funds under our management. Our effort was also duly recognized by the award of Best Performing PFA in 2014 by The African Development Magazine.

We have in place a customer Service Charter that promise not more than two days for crediting remittances into customer account and ten days for processing and paying all forms of retirement benefits.

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Frequently Asked Questions

Explore our well curated Frequently Asked Questions, providing in-depth answers to questions you may have

When was the Pension Reform Act (PRA) enacted?

The PRA was enacted in June, 2004. Having implemented the PRA for a decade, a review was conducted with a view to improving various provisions based on practical experiences. Consequently, it was repealed and re-enacted in July, 2014 as the Pension Reform Act of 2014.

Does the RSA Operate Like a Bank Account?

No. The RSA holds the employee’s monthly pension contributions, which are remitted through the employer for the exclusive purpose of providing retirement income. The PFA invests the funds in allowable investment outlets and the income generated is fully credited into the RSA. Withdrawals are not permissible by contributors except at retirement or upon temporary loss of job and in all cases, withdrawals are subject to approval by the National Pension Commission (PenCom).

What Comprises an Employee’s Monthly Emoluments?
The PRA 2014 defines ‘monthly emoluments” as total monthly basic salary, housing allowance and transport allowance.
What Are the Rates of Monthly Pension Contribution Under the CPS?

The minimum rate of contributions is 18% of the employee’s monthly emoluments where 10% is contributed by the employer and 8% is contributed by the employee.

Does the PRA 2014 Apply to Foreigners Employed in Nigeria?
The PRA 2014 primarily applies to Nigerian citizens working in Nigeria and does not cover expatriate employees. However, such expatriate employees are entitled to make voluntary contributions under the Contributory Pension Scheme.
Can an Employer Contribute More than the Stipulated 10% Minimum ?

Section 4(4) of the PRA 2014 stipulates that an employer may, notwithstanding any of the provisions of the Act, agree on payment of additional benefits to the employee upon retirement or elect to bear the full responsibility of the scheme provided the total amount contributed by the employer should not be less than 18% of the employee’s monthly emoluments.

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