By ROSEMARY ONUOHA
Premium Pension Limited has advocated for urgent implementation of Contributory Pension Scheme (CPS) in all states of the federation which are yet to adopt the scheme.

The states that are yet to sign the pension bill into law are inhibiting the domestication of the CPS in the states at the expense of workers, the company stated.

Speaking in Lagos at the Annual General Meeting of the National Association of Insurance and Pension Correspondents (NAIPCO), Managing Director, Premium Pensions, Wilson Ideva, stated that the CPS is arguably the most conspicuous and indelible legacy of the Federal Government in the past decade.

Ideva, who was represented by Mr. Paddy Ezeala stated that Premium Pensions, a pioneer Pension Fund Administrator (PFA) has since 2007 paid about N87 billion to 33,000 pensioners under the Contributory Pension Scheme (CPS) .

The Company, he said, currently maintains well over 600,000 Retirement Savings Accounts (RSAs) and has paid out over N87 billion to over 33,000 retirees or their next-of-kin as entitlements since 2007.

According to him, with pension assets under its management in excess of 370 billion naira and pension enrollees under the company’s management spread in over 1000 organisations across the country, Premium Pension has already been firmly established as a key player in the new Contributory Pension Scheme.

ideva said, “Professionalism in pension service rendition at Premium Pension is complemented by the company’s adoption of the robust Canadian Pension Administration Software (CPAS). We are partnering with this organisation to ensure continued cutting-edge service delivery. All the relevant staff operating this software have been adequately trained in Canada by CPAS’.

Ideva stated that the company has consistently posted Return on Investment of pension asset well above industry average and above inflation, adding that the company recently introduced a mobile application known as ‘Premium Pension Mobile’, with a view to facilitating its operations and enhancing customer service and interaction.

This, he explained was in response to the evident need for devices that would further close the gap between the company’s operations and its customers on the one hand and the customers and their Retirement Savings Accounts (RSA) on the other.