Our award is for Pension

The Award for Mass Mobilisation of Pension Asset conferred on Premium Pension Limited at the Lagos Chamber of Commerce and Industry Commerce and Industry (LCCI) Awards is an imprimatur of the Chamber on the strides made by the pension industry, in translating the Contributory Pension Scheme (CPS) into a huge success, Managing Director, Premium Pension, Wilson Ideva, has said.

Ideva, who made this known after the presentation of the awards in Lagos, said the N4.9 trillion secured as pension assets in the new pension scheme, represents the tremendous success that is possible when interpretation and translation of government policies is private- sector-driven under strict regulatory guidelines and supervision.

He said: “It is the collective effort of the entire industry stakeholders that has resulted in the humongous amassment of pension assets in the country through the new Contributory Pension Scheme,’’ shortly after the presentation of the awards at the MUSON Centre, Onikan, Lagos.

“The N4.9 trillion secured as pension assets in the new pension scheme represents the tremendous success that is possible when interpretation and translation of government policies is private sector-driven under strict regulatory guidelines and supervision.

Ideva praised the National Pension Commission (PenCom) for their high sense of commitment and professionalism demonstrated from inception in the regulation and supervision of the pension industry.

“By my own estimation, PenCom is the most effective regulatory body on the continent of Africa. The result of their manifest professionalism and high sense of commitment is what we are celebrating today.

“ Premium Pension Limited is one of the Pension Fund Administrators (PFAs) operating the Contributory Pension Scheme and currently manages over 600,000 Retirement Savings Accounts (RSAs). Managing pension asset put at over N370 billion, the company has paid out more that 87.3 billion Naira to 33,785 retirees or their next-of-kins since 2007. “Pension enrollees under the company’s management are spread over 1000 organisations across the country while the company has consistently posted impressive returns.

“According to the Lagos Chamber of Commerce and Industry, the Annual Commerce and Industry Award is to recognise, promote and celebrate public and private institutions operating in Nigeria for best business practices, growth through innovation, business sustainability and positive impact on people.

“The metrics for selecting awardees included but not limited to corporate governance, level of disclosure, wealth creation, levcompliance with set standards and positive impact on society.

Ideva also seized the opportunity to commend the National Pension Commission (PenCom) for their high sense of commitment and professionalism demonstrated from inception in the regulation and supervision of the pension industry.

“By my own estimation, PenCom is the most effective regulatory body on the continent of Africa,” he said.

“The result of their manifest professionalism and high sense of commitment is what we are celebrating today,”  he added.

Premium Pension Limited is one of the Pension Fund Administrators (PFAs) operating the Contributory Pension Scheme and currently manages over 600,000 Retirement Savings Accounts (RSAs). Managing pension asset put at over N370 billion, the company has paid out more that N87.3 billion to 33,785 retirees or their Next-of-Kins since 2007. Pension enrollees under the company’s management are spread over 1000 organisations across the country while while the Company has consistently posted impressive returns.

According to the Lagos Chamber of Commerce and Industry, the Annual Commerce and Industry Award is to recognise, promote and celebrate public and private institutions operating in Nigeria for best business practices, growth through innovation, business sustainability and positive impact on people.

The metrics for selecting awardees included but not limited to corporate governance, level of disclosure, wealth creation, level of compliance with set standards and generally positive impact on society, Paddy Ezeala Head, Corporate Communications, said.

The company’s Executive Director, Operations and Services, Mr. Kayode Akande, said driving the CPS requires exemplary synergy among operators and cooperation among stakeholders, especially in generating public awareness on how the scheme runs.

“There is practically nothing anybody can do alone in ensuring the success of the CPS” he said. “We all have to work together and we are already doing that.” It is the collective effort of the entire industry stakeholders that has resulted in the humongous amassment of pension assets in the country through the new Contributory Pension Scheme” said Mr. Wilson Ideva, the Managing Director of the company shortly Kayode Akande stated that driving the CPS requires exemplary synergy among operators and cooperation among all stakeholders, especially in the area of generating public awareness on how the scheme runs. “ He said that there is practically nothing anybody can do alone in ensuring the success of the CPS. He said: “We all have to work together and we are already doing that.

Courtesy: thenationonlineng.net


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