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Chuks Udo Okonta
The President, Pension Fund Operators Association of Nigeria (PenOp), Eguarekhide Longe, has called on Insurance practitioners and Pension Fund Administrators (PFAs) to embrace ethical practice in the marketing of pension benefits products.
He told Inspen that the wrangling between the operators is uncalled for, adding that the operators are to enlighten customers on the benefits of each option and allow them make appropriate decisions.
“The long and short of it, is that I do not think there is any reason to fight. Both are trying to serve the same customer and we should enlighten the customers on the benefit of each option and allow them to decide.
“The pension industry is where the funds are incubated, so, there is a tendency for them to protect the funds. The insurance agents are motivated by commission and they go to any length to access that fund. I think there are ways as gentlemen and women; we can offer products to clients in a more decent way,” he said.