IEI-Anchor Pension Managers Grows Assets to N80bn

IEI-Anchor Pension Managers, said pension assets currently under its management has grown to over N80 billion.

The Managing Director/CEO, IEI-Anchor Pensions, Mr. Glory Etaduovie, who stated this during a media parley recently said the company has made tremendous progress in its efforts to penetrate the pension industry in the last three years.

He said the company’s customer service delivery had persuaded both individual and company customers to trust in its capacity to manage their pension fund.

According to him, the company’s Asset Under Management (AUM) increased from N47 billion in 2015, to over N75 billion at the end of 2017, while aiming to achieve over N100 billion AUM by 2019.

Between January and March 2018, he said, a total number of 2,414 benefits were processed and paid amounting to N192 million.

Etaduovie, said IEI-Anchor Pension Managers, had developed a model that will sustain the PFA in years to come.

He said When the pension transfer window finally opens, the company intends to add about 30 per cent more contributors and pension assets, to its existing account insisting that IEI-Anchor Pensions is well positioned for that and other initiatives that can grow the company for the better.

On the Pension Multi-Fund structure which commenced earlier in the month, Etaduovie,said, his company has raised awareness among its clients to better inform them on the benefits of this scheme.

He said the company equally has presence in most states of the federation, and was gradually penetrating the pension market, despite being one of the third-tier operators licensed by PenCom.

On the company’s investment pattern, Etaduovie, said the pension guideline plays a key role on how his PFA invests its fund, adding that there is no room for unnecessary investment adventure, He also noted that the market presents good opportunities and initiatives – a good blend of bonds, Treasury Bills, Money market and other safe investments.

He said the company’s robust ICT system enhances customer service, enquiries and enhances interaction for better

OAK Pension Grows Profit by 65%

OAK Pensions Limited said it grew its profit by 65.8 per cent, from N230.88 million in 2016, to N382.8 million in its 2017 financial year.

The Chairman of the company, Dr. Awa Ibraheem, disclosed this during the company’s 12th annual general meeting in Lagos.

While expressing OAK Pension’s commitment to serving its contributors and retirees, Ibraheem, said the company will continue to give them better returns on investment.

“Our duty is to manage the funds on behalf of the retirees and ensures the funds grow so that when they retire, they benefit more than what they contributed. Our retirees are happy with us with the rate of return on investment.”

He said that OAK Pensions tries to balance return with risk, by making sure that the interest of its retirees are well protected, and balancing the high returns with low risk.

To get closer to its stakeholders, he said that the company had extended its call centers so that its interaction with retirees will be more efficient and effective.

“We have also gone far by improving on our ICT, we have completely computerised now, and on the feedback we are getting from retirees, it is much easier for them to be served than in the past,” he said.

While observing that most of the contributors of the Contributory Pension Scheme were from the government and private sector, he said that the informal sector were actually the drivers of the economy.

“What we are doing now is to expand our informal sector department, to provide them with more facilities,” he said

adding that the company was committed to protecting the financial future of the Nigerian workers and will continue to enlighten the informal sector on the need to key into the CPS.