Stanbic IBTC Pension managers launches mobile office

Stanbic IBTC Pension Managers Mobile office Vehicle

Chuks Udo Okonta

Stanbic IBTC Pension Managers today Monday, has set the pace in the pension industry with the launch of its mobile office to educated and provide the public with an easy access to information.

Its Managing Director Dr Demola Sogunle at the launch in Lagos, said the company took the step to bring pension services close to the people, adding that the vehicle which is equipped with the state-of-the-art information and communications technology devices would be driven round the state to meet the pension needs of the public.

Sogunle noted that the firm would soonest launch the scheme in Abuja, Port Harcourt and other major cities in the country.

He said the company has a client base of over one million  Retirement Savings Account (RSA) holders, as well as assets under management of over N941 billion, adding that the PFA currently serves as an administrator for over 50 Approved Employee Schemes (Gratuity and Provident Fund Schemes) and total assets under such schemes are valued at over N141 billion.

 

He noted that the firm pays about N1.8 billion to about 26,000 retirees monthly and over N178 billion has been paid on time to such retirees since inception in 2006.

 

He said: “At Stanbic IBTC, we are driven by our 5 key pillars which form the basis of our unique selling proposition. These are safety; track record, convenience, service and transparency. Stanbic IBTC Pension Managers is backed by strong and reputable financial institutions and is a member of the over 150 year-old Standard Bank.

“We have access to Stanbic IBTC group’s in-depth market research which boosts our research investment decisions. The Stanbic IBTC group has been managing funds for companies and individuals for close to 2 decades.

“We are in over 180 locations nationwide and have also provided account access via internet, telephone, email, SMS and ATM. We offer value added services such as pension payments, retirement planning advice, personal financial planning calculator, and financial reporting as well as providing transaction notification on all contributions, quarterly statements and quarterly newsletters to enable clients better understand the working of the CPS and management of their RSAs.”

Executive Director Technical Lagos State Pension Commission Mrs Folashade Onanuga, commended the firm for the initiative, stressing that the firm has remained at the fore-front in the pension industry by introducing far reaching measures to assist the public.

She noted that the mobile office would definitely endear the public to the firm as they would now have access to information on how pension works. She said the PFA presently manages over 52 per cent of the Lagos State workers’ pension accounts and that the firm has never reneged on meeting the state’s expectations.