Premium Pension Limited, one of the leading Pension Fund Administrators (PFAs) in Nigeria received two International Standard Organization’s (ISO) recertifications recently. The ISO recertifications are on Information Security Management System (ISMS) ISO 27001:2013 and Quality Management System (QMS) ISO 9001:2015. Going through the websites of Pension Fund Administrators in Nigeria, Premium Pension is the only operator with two ISO
certifications.
Premium Pension Limited has topped the list in the year end 2020-unit price and in cumulative returns since the beginning of the Contributory Pension Scheme (CPS). This achievement accentuates the record achieved as the first PFA to surpass the N5.0000-unit value in Retirement Savings Account (RSA) Fund II on 26th June, 2020.
You would recall that the launch of the RSA Transfer System (RTS) on November 16, 2020 heralded the full implementation of one of the cardinal features of the Contributory Pension Scheme (CPS), the portability of RSAs. By this development, RSA holders have been empowered to move their RSAs from their current PFAs to other PFAs of their choice, whenever they desire to do so.
According to a report by Business Day Newspaper, Premium Pension has continued its trajectory of adding value to the customers by returning 433.75% investment growth to its RSA holders and maintaining the highest unit value of 5.3375 in the oldest RSA Fund (Fund II) since inception.
The newspaper also reported that the number of contributors that have moved has risen by 353 percent to a total of 12,681 in the Transfer Quarter that ended March 31, 2021, from a total number of 2,799 Retirement Savings Account (RSA) holders in the maiden Transfer Quarter that ended December 31, 2020.
The return on pension contribution by the performance of the PFAs listed will not only give contributors some level of comfort in the Contributory Pension Scheme (CPS) but will further consolidate their confidence in the scheme and the choice of the right PFA, the newspaper reported.
Of the 22 Pension Fund Administrators (PFAs) in the country, Premium Pension Limited (PPL) recorded the highest unit value of N5.0143, thereby, surpassing the N5.0000 unit value in Retirement Savings Administrator(RSA) Fund II on 26th June, 2020.
Investigation shows that Premium Pension has continued its trajectory of adding value to the customers, hence, closed the half year with N5.0143 unit value.
With this development, the Pension fund operator remains the first and only PFA to give over 400 per cent investment growth to its RSA holders since the beginning of the Contributory Pension Scheme(CPS) in 2004.
Following closely in second spot was NLPC PFA with a unit value of N4.7335, while Crusader Pension occupied third position with N4.6939 unit prize, even as ARM Pension recorded N4.6426 prize value.
Moreover, Stanbic IBTC posted N4.5177 unit prize, FCMB Pension N4.3851 and PAL Pensions has N4.2973 as its unit prize.
Others are; AIICO Pension with a unit prize of N3.9649, First Guaranty Pension N3.9217 and Trustfund Pension with N3,8462 unit prize as at 30th June, 2020.
Furthermore, a careful analysis of RSA Fund III revealed that NLPC was leading this category with N1.4067 unit price keenly followed by Premium Pension with N1.3435, AIICO N1.3208, while Stanbic IBTC Pension came fourth with N1.2861.
Other PFAs in order of ranking in Fund III are; First Guaranty N1.2639, Crusader Pension N1.2601, PAL Pension N1.2517 and Leadway Pension with N1.2444 as at 30th June, 2020.
Experts said, the return on pension contribution by the performance of the PFAs listed above will not only give contributors some level of comfort in the CPS but will further consolidate their confidence in the scheme.
The Board of Premium Pension Limited has announced a few changes at the Corporate level which include the appointment of Mr. Ibrahim Alhassan Babayo as its new Chairman effective April 26, 2020. This followed the retirement of the erstwhile Chairman Arc. Yunusa Yakubu who held the position since 2017.
Mr. Babayo, a graduate of Kaduna Polytechnic and Yaba College of Technology in Estate Management and a member of the Nigerian Institute of Surveyors and Valuers (NIESV) as well as International Facility Management Association (IFMA), is the founder and Chief Executive Officer of Cosmopolitan Cleaners Limited, an environmental management and sustainability company. He is on the Board of Golden Construction Limited, RDS Insurance Brokers Limited and Nonsuch Health Maintenance Organization, AMML Microfinance Bank, and a Trustee of TAJ Bank Foundation, amongst others. His imprints, which started with a career in banking, traversed many sectors of the Nigerian economy including estate management, road and building construction, banking, environmental, health and facilities management.
Mr. Babayo is an alumnus of several World leading institutions, including Harvard Business School, Wharton Executive Education, University of Pennsylvania, London Business School, and National University of Singapore. Some life changing programs attended by him include, General Management Program, Leadership Edge: Strategies for new leaders, Making Corporate Boards More Effective, Essentials of leadership and Corporate Governance: Effectiveness and Accountability in the Boardroom.
During his previous service on the Board, he had chaired the Board Information Technology Steering Committee, the Committee which laid down the foundation for information technology transformation of the Company. Until his appointment as Chairman, Board of Directors, he chaired the Board Finance and General Purpose Committee that had oversight over the development of the Company’s Strategic Plan and is responsible for periodic review as well as monitoring the implementation of the Plan. He had also served in many Committees of the Board including Nominations, Audit and erstwhile Establishment Committees.
It is these wide-ranging experiences, garnered within the last three decades, deep understanding of the business as well as the Strategic Plan of the Company that he is bringing to bear on his new assignment as the Chairman of the Board of Premium Pension Limited.
Other Board changes announced are the appointment of two Non-Executive Directors, namely: Major General Bitrus Vandos Themoi Kwaji (Rtd.) OON, and Muhammad Musa Makarfi.
General Kwaji (Rtd.) an accountant by profession, is an alumnus of Ahmadu Bello University, Zaria and Strayer University Washington DC, USA, among others. Until his retirement from the Nigerian Army in 2014, General Kwaji, was the Group Managing Director, Nigerian Army Welfare Ltd/Gte, a non-profit organization, registered by the Nigerian Army under the Companies and Allied Matters Act, 1990. During his over thirty (30) years career in the Nigerian Army, he had held several positions, including Deputy Defence Attaché Finance, Washington DC, General Manager (Investments) Nigerian Army Welfare Scheme, Commandant Nigerian Army School of Finance and Administration as well as Chairman, Military Pensions Board. General Kwaji is widely travelled and has attended several finance related courses in Nigeria and abroad.
Muhammad Musa Makarfi, an Alumnus of Bayero University Kano with over thirty years post-graduation experience, had a successful career in banking, spanning nearly two decades. Mr. Makarfi who started his banking career with the Bank of Credit and Commerce International (BCCI), had a stint in Owena Bank and later held positions of responsibility, including branch manager in several branches of Habib Nigeria Ltd (now Keystone Bank). His performance saw him attaining the position of Assistant General Manager and later served as a Director in Integrated Cash Management Services Ltd, a Central Bank licensed cash management company with Head office in Lagos. Since his retirement from active service, he has been engaged in property development and air charter services.
In his remarks on the new appointment, the Chief Executive Officer Mr. Umar Sanda Mairami said, “the appointment of Mr. Babayo as Chairman is in line with the strategic vision of Premium Pension Limited to become the foremost Pension Fund Administrator (PFA) in the Country. This is even more so when the Company is implementing its 5-year Strategic Business Objective that aims to drive business growth and transformation.” The appointment will also deepen the already sound corporate governance culture of the company.
Premium Pension Limited is a licensed Pension Fund Administrator, which started operations in the year 2005, with current Assets under Management (AuM) well in excess of N700 Billion.
Premium Pension Limited, a
leading Pension Fund Administrator (PFA) in the country and Jigawa State
Government have signed a Portfolio Management Agreement which confers on the
former the authority and responsibility of managing the state’s Pension fund as
the Lead PFA. This fund has been established by the State Government through
the Jigawa (State & Local Government) Contributory Pension Scheme. The
signing of the Agreement follows the reappointment of Premium Pension as a Lead
PFA for a term of two years. The Agreement which has the endorsement of the
National Pension Commission (PenCom) emphasizes, among others, that the funds
must be managed in accordance with the guidelines issued pursuant to the
Pension reform Act 2014 and Jigawa State Pension Law.
The ceremony for the signing
of the Agreement was held recently at the Pension House, Dutse Jigawa State
with key stakeholders on both sides in attendance. While the Acting Managing
Director of Premium Pension Limited Mr. Kabir Ahmed Tijjani signed on behalf of
the Company, the Acting Head of Service of Jigawa State Alhaji Hussaini Kila
and the Executive Secretary of the Jigawa (State & Local Government)
Contributory Pension Scheme Alhaji Hashim Fagam signed on behalf of the Jigawa
State Government.
“This is a practical
demonstration of mutual trust and highly productive partnership required to
drive the contributory pension scheme in the Country” said Mr. Tijjani while
making remarks at the ceremony. Mr. Tijjani further said that “All the
appointed Fund Managers will continue to justify the confidence reposed in them
by Jigawa State.”
Other officials of the state
present at the occasion includes the Statutory Board members of the Jigawa (State
& Local Government) Contributory Pension Scheme, the state Solicitor
General and other government officials. Others include Managing Directors and
Company Secretaries of other fund Managers appointed by the state
In another developments, as
part of the strategic efforts of the Company to reach out to its teeming
members towards achieving exceptional customer experience, the Management of
Premium Pension Limited led by the Acting CEO Mr. Kabir Ahmed Tijjani held an
interactive session with the Pension Desk Officers (PDOs) and Human Resource
Managers in Kano. The colorful event took place recently at the Tahir
Guest Palace Hotel.
Highlight of the event was the Launching of PPL Mobile app which was timely and well appreciated by the participants. This is expected to drive and increase customer engagement as well as easy access to the Company’s services through digital platform.
Premium Pensions Limited (PPL),
one of Nigeria’s leading Pension Fund Administrators (PFAs) with regard to
Assets under Management, (AUM) has donated educational materials to select
schools in Nigeria. The PFA also donated relief materials to some Internally
Displaced Persons (IDPs) and orphanages in some parts of the country.
The interventions are aimed
at touching the lives of the beneficiaries positively. Some of the CSR
interventions include presentation of exercise books to Abia and Kaduna
States. Other donations include food items and mattresses to Clapai
Orphanage in Plateau State and clothing items to Internally Displace Persons (IDPs)
in Borno State. Manual boreholes were also constructed for Rawayya Village in Zamfara
State as well as Karu abattoir and old-Kutunkun village in Gwagwalada within
the Federal Capital Territory.
Other interventions
include; the provision of solar-powered lights in Federal University Dutse,
Jigawa state and providing financial assistance to Miss. Onyekachi Ezekwe for
surgical operation.
“As
a responsible corporate entity, Premium Pension Limited cannot stand aloof when
the opportunity to help people in need and contribute to the development of the
society arises” said the Managing Director/CEO, Umar Sanda Mairami. “Corporate
Social Responsibility (CSR) is an integral part of the company’s corporate
governance architecture for which we have won international awards”.Premium Pension is
one of the leading Pension Fund Administrators with offices across the country.
The company has over N700 billion as Assets Under Management
In its strategic plans of taking the company to the next level of growth, Premium Pension Limited has unveiled a new logo to reflect the company’s positioning as a future focused organization actively growing its member’s wealth so they can embrace their golden years.
The new look of the brand is a final step in a transformation that includes a revamped technology infrastructure designed to provide a ‘premium experience’ for its customers.
The re-launch event, which took place recently at the Civic Centre in Victoria Island Lagos, provided an opportunity for the brand to unveil its new logo and brand promise.
The occasion afforded the audience a sneak preview of the multi-channel mobile app, which is set to revolutionize the pensions industry. Guests at the event were also updated on the recently introduced micro pension product, aimed at small business owners.
Speaking at the event, the Chairman of the Company’s Board of Directors, Architect Yunusa Yakubu, who gave a brief history of the company which he said started operations in January 2006, added that today the company is one of the leading pension administrators in Nigeria with Assets Under Management (AUM) of over N673 billion. He said the new brand identity “will make bold statement of our dominance,” while creating values and offering improved services to our teeming customers.
In his address at the event the Chief Executive Officer of the company, Umar Sanda Mairami, said “The renewed and refreshed Premium Pension is a delicate blend of the old and the new. Whilst we will continue to provide premium returns to our customers who have been with us over the years, we are conscious of the needs of the new generation and have designed products specifically for their lifestyle, to ensure they can look forward to and then enjoy their golden years”.
In his speech, the Chairman/CEO, BUA Group, Abdussamad Rabiu, who was represented at the event by the Group Executive Director, Alhaji Kabir Rabiu, said the Contributory Pension Scheme (CPS) has impacted positively on the nation’s economy.
While commending Premium Pension for its contribution to the growth of Contribution Pension Scheme (CPS) in Nigeria, he said BUA Group was proud to be associated with Premium Pension Limited achievements over the years. He expressed optimism that the unveiling of the new brand identity will provide the company with the needed springboard to move the company to higher heights as well as enhance the growth of pension industry in Nigeria.
This is to inform you that the Federal Government has approved the Micro
Pension guidelines and is set to commence in January, 2019.
This is announced by the Acting Director General National Pension
Commission (PenCom) Mrs. Aisha Dahir-Umar , at the 2018 conference organized by
PenCom for Directors of Pension Fund Operators. The scheme is meant to capture
people in the informal sector of the economy and expand the outreach of the new
pension scheme. This is described as huge development that could enhance the
growth of pension assets in the country to the tune of more than 3 Trillion
Naira
