Stanbic IBTC Pension pays N200bn entitlement to retirees

Stanbic IBTC Pension Managers Limited said it has paid over N200 billion to retirees since it commenced operations in 2005.

It added that in its 12 years of existence, the Pension Fund Administrator (PFA) has over one million Retirement Savings Account (RSA) holders and assets under management in excess of N1 trillion, paying more than N2.1 billion to over 37,000 retirees monthly.

While applauding its customers’ loyalty, it said, they are instrumental to its winning the 2016 Africa Pension Awards’ Most ICT Innovative Operator.

The award, presented at the recently held World Pension Summit in Abuja, was in recognition of efficient deployment of ICT for excellent customer service delivery, according to the awards organisers.

“We are very pleased to have been recognised as the most innovative pension administrator in Africa. It is indeed a prestigious award made possible by our dedicated customers. Our customers constantly challenge us through their support and positive feedback allowing us to push the bar in innovative service to ensure they get full benefit of partnering with us,” Chief Executive, Stanbic IBTC Pension Managers, Mr. Eric Fajemisin, said.

The Africa Pension Awards (APA), which was instituted in 2015 as a platform for African countries to yearly benchmark progress in the pension industry on the continent, recognises excellence and achievements to stimulate innovative practices in pension administration.

The Pension Fund Administrator (PFA) was adjudged to have made the best use of ICT to deliver excellent customer service via its SMS Shortcode, Multilingual Contact Centre, Retirement Savings Account on Automated Teller Machines (ATM), and its mobile offices.

According to Fajemisin, as the leading PFA in the country, innovation has been at the heart of the company’s strategy to build better relationships with customers, deliver improved and convenient services that will ensure retirement savings account holders have peace of mind.