More workers join Trustfund pensions

on   /   in Labour 12:09 am   /   Comments

INCREASING number of workers in both private and public sectors are choosing the Trustfund Pensions Plc, for their retirement saving account, RSA, the management has said. It explained that the choice of Trustfund is based on its solid financial base and sound management team.

Speaking at its Annual General Meeting, AGM, in Abuja, the Chairman of the Board of Directors of Trustfund Pensions, Dr. Ngozi Olejeme, told the elated shareholders, contributors and other stakeholders, that no less than 278 million workers were now account holders in Trustfund.

According to her, “It is our earnest desire to continually create wealth for our shareholders. This is demonstrated in the value added to our shareholders’ fund from N1.773billion in 2010 to N1.994billion in 2011 representing over 12 percent increase. We would continue to put up efforts to guarantee wealth creation for our shareholders.

We aspire to be leaders in fund management and this is demonstrated in the performance of our Fund Under Management, FUM. There was an increase of about 20 percent of our FUM from N116 billion in 2010 to N139billion in 2011.

This is because of the increase in the number of Retired Saving Account, RSA, holders; from 234million to 278million, revived effort at the funding of unfunded accounts etc. Also, some state governments have demonstrated increased commitment towards the person reforms. We shall continue to revive the market to access all viable means go increase funds in the year to come.”

“During the last AGM, I informed you that our company had recapitalized to N2billion with N1billion fully paid even before National Pension Commission, PenCom’s guideline for N1billion minimum capital base. is my pleasure to inform you that our company met the requirement.

We will continue to assess our operating environment with focus on capital issues to meet challenges as at when they arise. want to acknowledge that our company performed well despite the gloomy economic situations as cited earlier. me our partners and all interested parties that efforts will continue to be made to ensure that our company is steady on the of wealth creation for all members, while recognizing any significant change in policy and business environments. “

Corporate governance

Continuing, she noted that “issues of corporate governance continue to generate much concern among Nigeria’s corporate world as well as international . I am pleased to inform you that Trustfund Pensions Plc is built around a sound corporate governance practice, which checks and balances among the different Board Committees. want to use this opportunity to express my sire to members of the Board of Directors and colleagues for their continued support and creative ideas for best .

Their commitment and readiness to accept challenges even in the most difficult situations make a whole lot of with their expertise and professionalism which have been reflected in the various successes recorded during the year. me assure you all that our company will continue to strengthen its corporate governance structure and practices as all is will continue to align with different committees established.

We shall continue to support the management in bringing out the best in our workforce in the interest of all stakeholders.”

    Print       Email