Friday, January 29, 2021 / 11:50AM
/ Stanbic IBTC Pension / Header Image Credit: CDE State
The pension industry in Nigeria has evolved over the years and
introduction of the Transfer Window, which allows pension contributors to
switch from one pension fund administrator (PFA) to another has been the talk
of the town since November 2020 when it was officially declared open by the
National Pension Commission (PenCom).
On December 23, 2020, Stanbic IBTC Pension Managers hosted an Instagram Live Session to educate contributors on what they need to know before switching PFAs.
Below are the key highlights:
1. It is Free: Switching from one PFA to
another is completely FREE and OPTIONAL.
2. Do your research: Verify
the sources of information before you switch. You can visit the National
Pension Commission (PenCom) website for details on returns.
3. Confirm that the PFA is Compliant: It
is important to confirm that the funds of the PFA you are switching to are
audited and that they have adopted the International Financial Reporting
4. Your remittance and account balance are
not affected when you switch.
5. You can only initiate a transfer once a
year; transfers are effected at the end of each quarter.
Why Stanbic IBTC Pension Managers Stands Out
- Heritage: A member of the over 150-year-old Standard Bank Group.
- Trust and
Reliability: They have paid over N800 billion to more than 62,000 retirees
since the inception of the Contributory Pension Scheme (CPS)
Performance: Their funds have returned over 370% since inception.
There are periodic statements sent to contributors and they have the
chance to check their balance at any time through their website, USSD or the Stanbic IBTC Mobile App.
- Highest Number
of Subscribers: Over 1.8 million people trust Stanbic IBTC Pension
Managers with their funds.
Benefits of Switching to Stanbic IBTC Pension
- Immediate access to end-to-end financial
- Peace of mind knowing that your pension
is safe, regardless of where you are.
- Access to relevant information plus ease
of performing transactions.
- Long-term sustainable returns on your
assets to ensure that you retire well.
- Access to their Loyalty programme where
you enjoy discounts when you shop with any of their partner vendors.
At Stanbic IBTC Pension Managers, operational excellence drives service
delivery as their standards of operation give no room for poor investment
decisions. Therefore, you can be assured that your pension is not just in safe
hands but in the hands that are keen to help you to "RetireWell".
To switch now, click here. You may also call
01 271 6000 or send an email to firstname.lastname@example.org. For more information, visit
1. Takeaways from
Stanbic IBTC Bank H1 2020 Investors' Conference Call
2. Stanbic IBTC Q2 2020
Results Review: Solid Q2; on Track to Deliver >25% ROE in 2020
3. Stanbic IBTC
Holdings Plc to Establish a Wholly-owned Life Insurance Subsidiary
4. Stanbic IBTC Q1 2020
Results Review: Shares Attractively Priced Post Sell-off
5. Stanbic IBTC Q1 2020
Unaudited Results - Trading Gains and Provision Reversals Bolster Earnings
6. Stanbic IBTC Q4 2019
Results Review: Sell-off Overdone Taking a Long Term View
7. Stanbic IBTC
Holdings Plc Announces the Establishment of its wholly-owned Life Insurance
8. Stanbic IBTC Bank to
Reward Customers that Reactivate their Dormant Accounts
9. Stanbic IBTC YTD
Sept 2020: A Rebound in Earnings
10. NSE Reviews and
Amends Pension Index
11. Dumping of NTBs by
the Pension Funds