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Stanbic IBTC plans to consolidate pension market leadership

By Akunne Chika
Stanbic IBTC Pension  Managers has unfolded plans to expand its operations in the country.Speaking  on the mission of the company at a  press briefing in Lagos recently, Mr. Chris Newton, CEO of Stanbic IBTC Bank se said that Stanbic IBTC Pension has mapped out plans to make retirees enjoy their retirements.

Newton restated the commitment of the leading pension administrator to the Nigerian pension system and pledged that they would continue to make the pension work better.

He said, “the company was set up to enable Nigerians to retire to a life of relative comfort and peace after their working lives. We want to help people plan their retirement such that ultimately, the retirement phase is as rewarding and productive to them as possible”. The company’s dedication to this mission has made it emerge as the leading Pension Funds Administrator in Nigeria with over 700,000 retirement savings accounts (RSAs).

He stated, “Stanbic IBTC Pension Managers Limited is committed to deliver exceptional services to the retirement savings account holders and retirees. Newton added,  “despite the successes recorded so far, we are re-committing our company to ever higher levels of excellence in service delivery. This re-dedication to service excellence is in line with the global repositioning of the Standard Bank Group (and Stanbic IBTC)  which has the theme, ‘Moving Forward’.

We are committed to delivering exceptional service to retirement savings account holders and retirees and on the basis, consolidate our leadership of the PFA sector of our economy while, moving the industry forward.”

“This re-dedication will be in the expansion of access to our services and network which will enable Nigerians access our services with ease and convenience regardless of their location, continuos education and enlightenment of retirees.”

“The importance of the pension industry which is well regulated and robust should not be underestimated” as it reduces the burden of social security on the Federal Government while enhancing mechanisms for the “channeling of savings into long term value-creating assets.”

The group’s CEO said “Stanbic IBTC is ready to play its part in ensuring that Nigeria becomes an example to all in this regard.”
The pension company is deploying its own branch network, the network of the Stanbic IBTC Bank and other partner banks to deliver prompt services to customers and to educate and enlighten the pension market, it claimed at the press conference.


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