Premium Pension grows RSA numbers by 4.96% in nine months

From left: Executive Director, Premium Pension Limited, Kabir Tijani; Managing Director/Chief Executive Officer, Umar Mairami; Executive Director, Kemi Oluwashina and Head Corporate Communications, Aliyu Mohammad Ali at the event.

* Sets five years strategic plan

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Chuks Udo Okonta

Premium Pension Limited says it recorded a 4.96 per cent growth in Retirement Saving Account (RSA) numbers in the first nine months of 2018, an improvement from total industry trend of 4.5 per cent, while Assets Under management (AUM) grew by 13.7 per cent, a significant improvement from industry AUM growth over the period.

The Managing Director/Chief Executive Officer, Umar Mairami, disclosed this at a press parley on Friday in Lagos. He added that the feats speak to the firm’s commitment to being an industry leader, not only in growth of RSA numbers, but in investment performance.

“We were therefore delighted to see our oldest and largest RSA Fund II reported in the online press,recently, as the best performing RSA Fund II in the Industry, year to September 2018. That Fund was also the first to attain a N4.0000 unit price, within the industry, and this performance corresponds to an annual average return of 12%, since inception in 2006,” he said.

He maintained that the firm accounts for over 10 per cent of total industry retirees on Programmed Withdrawal and have paid out over N86 billion in lump sum and programmed withdrawal benefits, since inception, representing 18 per cent of total amount paid by the industry.

He posited that the company determined to ensure payment process is as seamless as possible, for customers, stressing that with necessary risk controls, the firm will continue to ensure the standard already attained is sustained.

From left: Executive Director, Premium Pension Limited, Kabir Tijani; Managing Director/Chief Executive Officer, Umar Mairami and Executive Director, Kemi Oluwashina at the event.

Mairami noted that in a drive to ensure the firm continues to improve its efficiency levels and invariably customer experience, it adopted two International Organization for Standardization (ISO) management systems, specifically ISO 9001:2015 Quality Management System (QMS) and ISO 27001:2013 Information Security Management System (ISMS).

“We were recently recertified for the later and currently in the final stages of getting certified for the former. These projects were implemented simultaneously with our new, fully integrated and customer-centric Core Business Application,” he added.

He noted that the firm has set a five-year strategic plan that would lift her to lofty heights. According to him, all the initiatives being embarked upon is to differentiate the firm, using technology – easy-to-use multi interaction platforms for customers -and improve the customer journey with the organisation.

He identified the firm’s customers as the centre of all it does, adding that the management appreciates customers consistent feedback and support, which has served as input into all the improvement projects currently being implemented.

“We restate our commitment to remain true to our core values – Care, Integrity, Transparency, Ethics and Professionalism – in carrying out all our duties to them and other key stakeholders,” he added.

He said the company is fully prepared for the forth coming micro pension scheme, stressing that more offices will be open across the country to harness opportunities to be provided by the scheme.

He implores the public to embrace the Contributory Pension Scheme (CPS), which he said remains one of the best legacy the government has laid for the citizenry.

According to him, the present economic situation demands that people should plan their future to mitigate hardship at old age. He identified the CPS as one of the best tools to secure a robust future, especially at old age.

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