Stanbic IBTC Pension Managers, a subsidiary of Stanbic IBTC Holdings Plc, disclosed that it has disbursed over N800 billion to 62,000 retirees since its inception in 2004.
This was disclosed by the Head of Benefits Administration in Stanbic IBTC Pension Managers, Bolanle Shobowale during the recently concluded 2021 virtual Employers Forum organized by the firm in Lagos.
Commenting on drivers that made the disbursement seamless and effective, Mrs Shobowale revealed that the firm (Stanbic Pensions) adopted technology nationwide in supporting contributors through access instant services made available on the self-service option
On the other hand, the CEO of Stanbic IBTC Pension Managers, Olumide Oyetan praised the National Pension Commission (PenCom) for its recent RSA transfer system, noting that it will offer stability and sustainability to the pension industry while benefitting contributors.
Delivering his presentation titled ’Pension Administration in the New Normal’, Oyetan said: ‘’We do not take the confidence reposed in us by the contributors for granted. As an institution with over 155 years of proven track record in Africa, we remain committed to enabling dreams, expertly managing contributors’ funds and partnering with you to develop our industry and economy,” he said.
“Before we begin, please permit me to appreciate each of you, our partners, for your continuous support over the years. Despite the pandemic and other recent unsettling events, you have remained committed to delivering value in your spheres of influence, while also partnering with us to add value to pension contributors across the country. We are immensely grateful to you for your continuous support of the Contributory Pension Scheme. Some of you are not just partners but also our clients, who have entrusted us with supporting their retirement journey. We do not take the trust, support, and consistency through the years for granted,” he added.
It is worthy to note that Stanbic IBTC Pension Managers Limited is a licensed Pension Fund Administrator (PFA) set up with the primary objective of delivering quality pension fund administration and management services to both private and public sector employees. It was incorporated on 19 May 2004, and it currently pride itself as the largest Pension Fund Administrator in Nigeria, both in terms of Retirement Savings Account (RSA) and value of Assets Under Management