Premium Pension wins African Quality Achievement award

An Abuja-based Pension Fund Administrator (PFA), Premium Pension Limited, has won the Africa’s Most Innovative Pension Company of the Year, 2016 award.

The award was conferred on the PFA by the African Quality Institute- publishers of Quality Standard Magazine.

Reacting on the award, the Managing Director of the firm, Mr. Wilson Ideva, said quality is inherent in the Contributory Pension Scheme (CPS) noting that the new pension scheme is a clear departure from the former Defined Benefit scheme that proved unworkable and brought untold hardship on retirees in the country.

“The rendition of the pension scheme in Nigeria has been a tortuous journey; a history of ups and downs and even near total collapse before the advent of CPS in 2004 with the enactment of the Pension Reform Act of that year, “he said.

Ideva pointed out that the air-tight statutory provisions and efficiency of the National Pension Commission (PenCom) have combined to guarantee quality as a watchword in the industry.

Premium Pension, he said, has stood out with top-notch professionalism, qualitative customer-care orientation and cutting-edge technology, among other attributes, noting that the company is well-positioned to weather whatever economic climate and primed to maximize the gains of the rapidly expanding pension market in the country.

Ideva commended the organisers and seized the opportunity to recognise the immense contributions of PenCom and other stakeholders in the industry in sustaining the integrity of CPS.

Speaking on the reason for organising the award, the organiser of the award, Mr. Desmond Esorougwe, said the quest for quality was one for all organisations, and that all organisations use and need quality for sustenance, growth and consistency, noting that the priority of the award was to promote quality awareness and quality management discipline in Africa thereby creating sustainable environment for business growth and profitability.