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Stanbic IBTC Pension pays retirees N16m

By Tony Edike
ENUGU—A Pension Fund Administrator,  Stanbic IBTC Pension Managers Limited, a subsidiary of Stanbic IBTC Bank Plc,  says it has paid over N16 billion to retirees since its inception, with close to 700,000 Retirement Savings Accounts in its kitty and Retirement Assets in excess of N280 billion under its management.

Executive Director of the firm, Mr. Eric Fajemisin, who stated this in Enugu at a forum to celebrate retirees in the South-Eastern part of the country, said Stanbic IBTC Pensions currently pays over N600 million to over 14,000 retirees monthly.

The interactive session with the Pension Fund Administrator, Fajemisiin said, was aimed at celebrating retirees and also provide a conducive platform for them to share their retirement experience as provided under the Pensions Reform Act 2004.

He said that it was also the Pension Administrator’s way of showing appreciation to the retirees and other stakeholders for their confidence in Stanbic IBTC Pension Managers.

According to him, “we are passionate about caring for the future of our retirees and appreciating them when we have the opportunity to do so. It is also an opportunity for them to meet with former colleagues, who they have not seen for many years after disengagement from active employment,” Fajemisin said.

This year, the firm had appreciated retirees in Ibadan (for retirees in the South West), Kano (North West) and most recently; Enugu (South East) just as it plans to hold more fora in several other regions across the nation.

Speaking at the event attended by over 450 retirees, the Enugu State Civil Service Commission Chairman, Mr. Albert Nnamani commended Stanbic IBTC Pension Managers Ltd for organising the event, adding that in the last couple of years of dealing with the organisation, seamless and quality services have been defining their features.


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