With over 700,000 Retirement Savings Accounts (RSAs) in the kitty and retirement assets in excess of N300 billion under management, Stanbic IBTC Pension Managers Limited, a subsidiary of Stanbic IBTC Bank PLC, has said it is determined to convince every Nigerian about the imperative of having a pension plan in order to build the wealth required for the good life in their senior years.
This was made known by Eric Fajemisin, Executive Director, Stanbic IBTC Pension Managers, in Port Harcourt at an interactive session with retirees in the South-South region organized by the institution as part of a strategic initiative to celebrate retirees and to deepen awareness about pensions and retirement planning.
“Part of our objective in organizing a forum like this is to encourage people, as employers or employees, to take advantage of the provisions of the Pension Reform Act 2004 (PRA 2004) to prepare for retirement now, and avoid severe financial difficulties during old age. Every employer is urged to help deliver the message to their employees and help them start their pension plans today.”
He added: “Stanbic IBTC Pension Managers has ensured that its RSA holders are free from the hassles of planning for retirement, and even more importantly, that they retire in relative comfort and peace. That, essentially, is what defines the service and the reason Nigerians should sign up with the pension manager.”
The forum, Fajemisin further stated, is aimed at also providing a conducive platform for retirees to meet with former colleagues who they had not seen for many years after disengagement from active employment and to share their retirement experience, while providing feedback on how the administrator can serve them better.
He said as Nigeria 's biggest Pension Fund Administrator, Stanbic IBTC Pensions Limited currently pays over N600 million to over 14,000 retirees monthly, and has paid over N16 billion to retirees since inception in 2004.
This year, Stanbic IBTC Pension Mangers Limited has held such retirees' interactive sessions in Ibadan (for the South West), Kano ( North West ), Enugu (for South East), and Jos (for the North Central).
Chairman of the event and a retiree, Professor Emmanuel Emenanjo of the Department of Linguistics, University of Port Harcourt , Rivers State commended Stanbic IBTC Pension Managers Limited for the initiative. He urged employers and employees that do not have pension plans to embrace the pension revolution in the country. Over 500 enthusiastic retirees from Rivers and neighbouring states attended the event during which Barrister Vincent Uchendu, Managing Solicitor, V M Uchendu & Company, delivered a lecture titled “The Importance of Wills in the Administration of Benefits.” Mrs. Fisayo Ofili, Head of National Sales, Stanbic IBTC Pension Managers Limited in her closing address reiterated that the fund administrator will continue to leverage Stanbic IBTC Bank's experience and pedigree to offer clients excellent services. “Stanbic IBTC Pension Managers Limited is committed to providing a safe investment haven and a good retirement plan for all Nigerians.” Mrs. Ofili noted.