News Column

Premium Pension Has N330 Billion Under Management

May 28, 2014

Premium Pension Limited, one of the pioneer Pension Fund Administrators (PFAs) in Nigeria that commenced operations immediately the Pension Reform Act 2004 became effective, now has over N330 billion pension funds under management, the company's Chairman, Aliyu Dikko, has informed.

Disclosing that the 9th Annual General Meeting of Premium Pension holds on Wednesday, May 28, 2014 at the company's Corporate Headquarters in Abuja, Dikko also said the PFA has so far paid about N63.2 billion as retirement benefits, while 13, 350 retirees receive pension every month through the company.

He stated that "Our company has continued to maintain its enviable position as one of the leading PFAs in Nigeria" adding that "Despite the declining employment opportunities that negatively impacted our business generation drives, the company has expanded its horizon in terms of funds under management and number of Retirement Savings Accounts (RSAs)."

In the same vein, the Managing Director of Premium Pension, Wilson Ideva, said "the Nigerian pension industry has virtually overcome its teething challenges. We are now striding to great heights."

The management of Premium Pension has been holding retiree/customer forum across the country in line with the company's policy of operating in close collaboration with its customers. The PFA has therefore been sensitising is costumers on the company's renewed resolve towards unassailable service delivery and customer care.

Ideva reiterated the importance of keeping in constant touch with customers especially in an industry that is still unfolding, saying "There is need to interact with our customers to among other things identify how to serve them even better."

He added that "While the company has recorded tremendous achievements, it is important that these giant strides are communicated to the customers to bolster their confidence in us and the industry and also identify where there are challenges and seek improvement."

Ideva reassured that the organisation is unequivocally committed to timely payment of all the entitlements of retirees across the country to avoid unnecessary hardship during retirement.

The Premium Pension boss affirmed that it was the patronage and support of customers that lifted the PFA from zero balance at inception to more than N330 billion as funds currently under management.

Ideva informed that the company now offers advisory services even as he promised that the firm will continue to reciprocate by continuously seeking avenues to serve them better.

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Source: AllAfrica

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