Executive Director, Business Development & Investment, Premium Pension Limite, Kayode Akande; Managing Director/Chief Executive Officer, Wilson Ideva and Head, Corporate Communications, Paddy Ezeala at the the firm’s head office in Abuja.
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Chuks Udo Okonta
The Managing Director, Premium Pension Limited, Wilson Ideva, says the decision to pay retirees on the 19th of every month is to eliminate financial stress they suffered during their active working days.
He told Inspen in an interview that the decision has transformed the lives of many retirees, who according to him, have being expressing their appreciations, through calls and text messages.
“I have received a lot of text messages and emails from our retirees who claimed they are being paid earlier than when they are working. Our retirees payment date is on the 19th of every month. We also make return on their balances.
“There was a retiree who approached me some days ago, saying that he has retired since five year ago, but his balance has not decreased. I told him that the balance is not decreasing because we are investing his money,” he said.
The firm’s Executive Director, Business Development & Investment, Kayode Akande, said the company’s policy is to place high premium on clients, stressing that the firm does not look at pension just as a business but as a social security.
On how the decision to pay retirees on the 19th was reached, he noted that was a unanimous decision to pay the retirees before members of staff.
“How do we come about paying our retirees on the 19th? We (staff) are paid on the 24th of every month. We then agreed to allowed our retirees to be paid before we are paid. So, if the last retiree is not paid, we would not get paid. Which means that if a retiree has wrong account, we need to sort it out.
“The staff agreed that our retirees should be paid on the 19th so that all issues with retirees are sorted out, because if it is not sorted out, their payment would get to the 27th day of the month. If they do not want their salaries on the 27th, but 24, they have to sort out that of the retirees,” he added.
