Nigeria’s leading Pension Fund Administrator, Stanbic IBTC Pension Managers, a subsidiary of Stanbic IBTC Holdings, has urged pension fund contributors to explore the unique opportunities presented by the ongoing Transfer Window to switch their Retirement Savings Accounts to a Pension Fund Administrator (PFA) of their choice.
Magnus Ekwueme, Zonal Manager, Stanbic IBTC Pension Managers, recently made this assertion on a radio interview while discussing the pension transfer window and its benefits to pension contributors.
Speaking on what contributors should consider when switching from one PFA to another, he said, “Pension fund is a long-term investment asset which needs to be nurtured in safety.
He spoke on two critical factors to consider when choosing a PFA; one is sustainable performance, and the other is ownership and management of the PFA”.
He urged contributors to look for PFAs who can offer sustainable performance in service delivery, returns and convenience.
He also highlighted the importance of knowing the values and experience of the individuals driving the business to ensure it aligns with their expectations.
Ekwueme said: “Contributors should only go for institutions with integrity that offers quality service, consistent, long term risk adjusted returns and innovative technology in delivering to client needs.”
He stated that with Stanbic IBTC Pension Managers, contributors are assured of transparency, security, accessibility and quality service.
He advised contributors to start preparing very early (as early as three years before retirement) by updating their information with their PFA and obtaining relevant information and documents from their employer such as payslips, valid means of identity etc.
He highlighted that it is critical to conclude all clearance and reconciliation procedures before retirement and urged contributors to check that all their pension contributions are in their retirement savings account.
Ekwueme gave assurance that retirees can walk into any Stanbic IBTC office nationwide or contact the company via its online channels to get any support needed.
He also noted that Stanbic IBTC Pension Managers proffers digitised solutions via its Super App; enabling contributors to access their statements easily, view their account balance on the go, independently change passwords, access newsletter, among others, are the functions contributors can perform on the Stanbic IBTC Super App.
Ekwueme attributed the long term success of Stanbic IBTC Pension Managers to the organisation’s value of integrity, its deep expertise, passion to serve its clients and consistency over the years in delivering maximum customer value.
Stanbic IBTC Pension Managers has also continued to re-invent itself and adapt to changing customer needs.