Premium and Trustfund Pensions Propose Merger in Nigeria

Premium Pension Limited and Trustfund Pension Limited have announced a proposed merger that, upon regulatory approval, will establish Nigeria's third-largest pension fund administrator. The merger notification was published on Tuesday, July 7, 2026, and is subject to the approval of the Federal Competition and Consumer Protection Commission (FCCPC).

Currently, Premium Pension and Trustfund Pension rank as the fifth and sixth largest pension fund administrators in Nigeria, respectively. The merger will involve the transfer of assets and liabilities from Premium Pension to Trustfund Pension, with Premium Pension dissolving without winding up.

The merger is expected to deliver strategic operational and financial benefits, improve efficiency, reduce operational costs, and strengthen investment management capabilities. It will also leverage the combined branch network and digital platform to enhance service delivery and broaden access to pension products across Nigeria.

This proposed merger follows the recent increase in the minimum capital base for pension fund administrators from N2 billion to N20 billion by the National Pension Commission (PenCom).