Stanbic IBTC Pension opens Uyo office

Chuks Udo Okonta

Stanbic IBTC Pension Managers Limited, a subsidiary of Stanbic IBTC Holdings, has opened a new business office in Uyo, the Akwa Ibom State capital, with a pledge to deepen awareness about pensions and retirement planning to benefit residents of the city and its environs.

The company said the new office is an additional avenue for it to meet the needs of its customers through Stanbic IBTC branches present in every state of the federation, adding that the opening is expected to stimulate further participation in Nigeria’s growing contributory pension scheme, and help people in and around the state prepare adequately for their retirement.

The company said the move aligns with its strategic goal of continuously delivering outstanding customer value by enabling Nigerians, be they active employees, retirees or employers, to become pension-conscious and to plan for their retirement.

Chief Executive Officer, Stanbic IBTC Pension Managers Limited Dr. Demola Sogunle, said: "Opening this additional location is in fulfillment of our promise to avail as many Nigerians as possible the opportunity to have quality pension fund administration and financial management services, which will enable a life of comfort in retirement.

"We offer value added services in all our touch-points and this new office will enhance access to these services."

On hand to commission the office located along Olusegun Obasanjo Street, Uyo, was the Head of Service, Akwa Ibom State, Mrs. Cecilia Udoessien, who was represented by the Permanent Secretary, Ministry of Transport, Barrister Offiong Udoffe.

Udoessien said the state government is delighted to partner with Stanbic IBTC Pension Managers to address the welfare of the people, and promised that the state will always strive to provide a friendly operating environment for businesses to thrive.

With the new office, Sogunle said Stanbic IBTC Pension Managers Limited has established an effective presence in all states of the federation, in line with the expanding footprint of the Stanbic IBTC Group in Nigeria.

He added that more offices will be opened in the months ahead, to complement the almost 200 branches of Stanbic IBTC Bank, Stanbic IBTC Pension Managers’ nine regional offices, as well as selected branches of Zenith Bank where customers are attended to by Stanbic IBTC staff.

Additionally, there is ease of accessing the retirement savings account via the internet, telephone, email and SMS. As a member of the 150 year-old Standard Bank Group, Africa’s biggest financial services conglomerate, Sogunle said Stanbic IBTC Pension Managers is backed by the requisite expertise and experience, strong and sound financial clout, ensuring efficiency in management and safety of clients’ investments.

"We believe that the support, experience and capabilities of the Standard Bank Group, to which we belong, have been instrumental in enhancing our expertise, resource base and general service delivery, thus reinforcing our goal of providing excellent service to all customers.

"It is the same dedication and uncommon touch that we will bring to bear on our operations in Uyo and other neighbouring states and communities."

The PFA has, in eight years of existence, emerged as Nigeria’s biggest with over one million retirement savings account holders and assets under management of more than N990.9 billion, paying about N1.5 billion to over 23,000 retirees monthly.

"Over N112 billion has been paid regularly to retirees since we commenced operations in 2005. Our aim is to continue to set ever higher standards of service delivery and ensure that our retirement savings account holders derive maximum value from their investments," Sogunle said.

Executive Director, Investment and Business Support, Eric Fajemisin, described Stanbic IBTC Pension Managers Limited’s business model as a cohesive and reliable platform primed to provide best-of-class service with high level of integrity, adherence to global best practices, and efficiency.

The overall objective, he said, is to ensure that people retire into a period of relative comfort and peace after their working lives. "In all aspects of our activities, we will continue to reinforce our promise to maintain the standards of excellence that our customers demand of us, and that is by helping them plan for their retirement in such a manner that ensures a worry-free retirement period."

Fajemisin said the PFA has put in place operational mechanisms and processes that focus on customer needs by harmonizing information and activities in such a manner as to enhance the convenience and ease with which Nigerians, regardless of their location, access the company’s services.

He appealed to employers of labour who have not joined the pension scheme as stipulated under PRA 2004 to come on board and ensure a secured retirement for their employees.