Pension

Stanbic IBTC Pensions lauds employers’ commitments amid headwinds

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Chuks Udo Okonta

Stanbic IBTC Pension Managers Limited has applauded employers for their continuous support over the years amidst the headwinds faced by most businesses.

The Chief Executive, Stanbic IBTC Pension Managers Limited, Olumide Oyetan, said this today at the 2021 Stanbic IBTC Pension Managers Virtual Employers Forum, stressing that despite the pandemic and other recent unsettling events, employers have remained committed to delivering value in their spheres of influence, while also partnering the Pension Fund Administrator (PFA) to add value to pension contributors across the country.

“We are immensely grateful to you for your continuous support of the Contributory Pension Scheme. Some of you are not just partners but also our clients, who have entrusted us with supporting their retirement journey. We do not take the trust, support, and consistency through the years for granted. Thank you very much,” he said.

He also recognized and appreciate the National Pension Commission (PenCom) for the work it is doing behind the scenes to ensure growth and stability in the pension industry.

The media was not left out amongst those he commended, as he submitted: “To our media partners, I say thank you for the immense support we continue to receive as you publicize our initiatives across Nigeria, and, in your unique way, positively extend the reach and impact of the Stanbic IBTC brand.”

He posited that these are both exciting and challenging times, noting that Nigerian Pension Industry is changing rapidly, and that while some people might be averse to the changes, they are necessary if the industry is to make progress.

According to him, the theme of the event which was: ‘Pension Administration in the New Normal’, encapsulates the purpose of virtual gathering.

“This virtual gathering in itself is an example of the new ways of operating in our new normal. We have put together a deliberate agenda that will allow us to have robust discussions around our new normal.

“Discussions such as the mental and physical health of our employees have become paramount for any organization and we must be equipped to support our employees.

“Discussions on new and efficient ways of serving our customers in these times are also important to give our customers the confidence that our focus at Stanbic IBTC remains helping them to retire well.

“We will also be discussing critical emerging trends including the transfer window among other industry updates,” he said.

The transfer window, he said is a positive development for the pension industry which in the long run, will offer much stability and sustainability to the industry.

He expressed optimism that the knowledge shared at the event would give fresh perspectives on how stakeholders in the industry could make the most of the new normal and boost contributors’ confidence in the Nigerian pension industry and the larger financial services industry.

He thanked participants for their confidence in the firm’s ability to deliver value, noting that the confidence was what has made the firm the largest PFA in Nigeria today, both in volume of Retirement Savings Accounts and value of Assets Under Management.

Oyetan said the firm does not take the confidence reposed in it for granted, stressing that as an institution with over 155 years of proven track record in Africa, the firm remains committed to enabling dreams, expertly managing contributors’ funds and partnering with employers to develop the industry and economy.

At the event, Yinka Johnson and Layo Ilori-Olaogun, staffers of the company had presentations on ‘Digitization of Pension Administration’ (special focus on online service options and selling our brand for TW).

Bolanle Shobowale and Ibiyemi Mezu, spoke on Benefit Administration and Dr. Jatto Sylvanus, spoke on managing the health of employees during the pandemic, to sustain productivity.

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