Chief Executive of Stanbic IBTC Pension Managers Limited, Mr. Demola Sogunle, has said that the pension system, with defined contributions as its foundation, presents a clear path for employees to maintain a stable standard lifestyle even well after retirement.

Sogunle, who made the statement while unveiling the second phase of the company’s interactive pre-retirement seminar in Abuja recently, said that raising awareness of retirement would help companies and their employees in particular to better understand the imperative of retirement planning.

Speaking at the seminar, which had the theme, ‘Life renewed at 55 and beyond,’ Sogunle said, “People are apprehensive about retirement because they do not plan for it early enough. Ideally, planning for retirement should commence from the day one takes on a first job.

It demands setting aside part of current income into a retirement savings account. Our central mission at Stanbic IBTC Pension Managers Limited is to help Nigerians address their retirement needs.”

The seminar also provided a platform for the Pension Fund Administrator (PFA) to forge closer ties with its customers and to enlighten the public on developments in the pension industry.

Other activities that featured at the event were presentations on lifestyle and health and managing finances, delivered by Mr. Chito Nwana, Medical Director, Tabitha Medical Center, Abuja and Emmanuel Olumuyiwa Olu-Ayeni, President /CEO StarBright Consulting Limited, respectively.

“In addition to creating awareness about the necessity of having a retirement plan and enjoying a comfortable life post-retirement, another objective of this campaign is to further deepen the relationship with our customers by reminding them of our availability at anytime and anywhere to attend to their needs.

In so doing, we obtained significant feedback with which to develop solutions that address their specific needs. This will not only put them at ease; we are also motivated to go the extra mile to deliver on our promises,” Sogunle stated.

Sogunle emphasized that planning for retirement should commence early in an individual’s working life as it typically takes many years to accumulate the necessary funds with which to live comfortably when the salary eventually ceases to arrive at the end of every month.

“This seminar, besides celebrating all of you that will soon transit from contributors to retired clients of Stanbic IBTC Pension Managers, will also provide an opportunity to address the concerns or anxieties you might have as retirement draws close.

“Other issues that were examined include preparation for retirement; accessing retirement benefits; health at retirement and investment opportunities post-retirement.

Stanbic IBTC Pension Managers, according to  Sogunle, is backed by the requisite expertise and experience and strong financial clout of the Standard Bank Group, ensuring efficiency in the management and safety of clients’ investments.

“We believe that the support, experience and capabilities of the Standard Bank Group, to which Stanbic IBTC belongs, have been instrumental in enhancing our expertise, resource base and general service delivery; thus reinforcing our goal of providing excellent service to all our customers.”

At the end of the seminar, Dr Sogunle outlined three crucial considerations which everyone must give a thought to for a secured future. The first being that no one will ever care about your retirement investments as much as you do – so educate yourself.

The second thought is that when making retirement investments, seek professional assistance – even the best athletes have coaches. The third thought is even if you may have stopped working for money; your money should never stop working hard for you.