Radix Pension Managers is a licensed Pension Fund Administrator (“PFA”) under the Pension Reform Act,2014 (as amended) and regulated by the National Pension Commission(“PenCom”). MBO Capital Management Limited (a reputable capital market operator) regulated by the Securities and Exchange Commission of Nigeria and authorized to act as a Private Equity Fund Manager in 2022 injected N4billion (Four Billion Naira) capital to recapitalise and successfully acquire 80% stake in Radix Pension Managers Limited. This has repositioned the company as a key player within the Nigeria Pension Industry to provide excellent Pension Fund Management and advisory Services in Nigeria
Compulsory Contributory Pension Scheme
The Pension Reform Act 2014 establishes a compulsory Contributory Pension scheme for all employees in both public and private sectors provided the employer has a minimum of three employees. All employees covered by the Act are required to choose a PFA that will be responsible for the management and administration of their pension funds.
Both employer and employee are required to make contributions to fund the Retirement Savings Accounts (“RSA”) of the employees. In addition, the law requires that all pension assets are to be held by a licensed Pension Fund Custodian (“PFC”) appointed by the Pension Fund Administrator. UBA Pension Custodian Limited is our PFC for our RSA funds.
Following the recapitalization process within the Pension Industry in 2022, Radix Pension Managers Limited was acquired by MBO Capital Management Ltd, a core Investor.
A fresh injection of capital worth N4billion (four billion naira) was made thereby increasing the capital base of Radix Pension Managers Limited from N1B to N5B; thus meeting the regulatory requirement as stipulated by the National Pension Commission (“PenCom”).