The Chief Executive Officer (CEO) of Stanbic IBTC Pension Managers, Eric Fajemisin, said the company is excited in welcoming new contributors through the new Transfer Window.
The Transfer Window, under the Pensions Reform Act of 2014, is an opportunity for Retirement Savings Account (RSA) holders to switch from one Pension Funds Administrator (PFA) to another.
Speaking on the theme, ‘The Pension Transfer Window – Securing your Future from Today’, Fajemisin on Monday in a virtual event in Lagos, stated that the commencement of the Transfer Window programme is a positive development that democratises pension fund management in the country and gives pension fund contributors the freedom to choose their preferred pension fund administrator.
He noted that the company has over the last two decade diligently managed funds for companies and individuals with total assets worth over N3.5 trillion.
This was disclosed at a Media parley event themed: ‘The Pension Transfer Window – Securing your Future from Today’.
Fajemisin acknowledged that the Transfer Window will offer a unique opportunity for customers in terms of driving their choice and optimal service delivery accompanied by long-term efficient management of their pension contributions.
According to him, the Transfer Window offers a unique opportunity for contributors in the Contributory Pension Scheme (CPS) to move from one Pension Fund Administrator (PFA) to another. It is one aspect of the pension Reform Act 2004, that was amended in 2014 and has now been implemented by the National Pensions Commission (PenCom).
“As a leader in the pensions industry, we have long awaited the Transfer Window because we understand its importance in driving choice and ensuring that customers can demand optimal service delivery and long-term, efficient management of their pension contributions.
“We have, therefore, been cautious that as we continue to delight our existing customers with optimal service delivery, we must further enhance our capacity to welcome additions to our family who will come over now that the transfer window is open. You can say that this capacity enhancement process sums up our key activities in the last few years.
“Stanbic IBTC Pension Managers has a strong track record of professional service delivery and we take very seriously our responsibility to ensure transparency in all our operations, offer easy, efficient and convenient solutions to our over 1.8 million customers and ensure the safety and long-term value of our contributors’ funds.
“This year has brought with it many surprises and developments, one of which is the proliferation of digital channels and the need for customers to access financial solutions easily and conveniently. Fortunately, we were ready. We relaunched our mobile app and revamped our website to make it even easier for clients to access information conveniently from whatever location they find themselves. You will agree that such self-service solutions are critical today.
“However, we realised that some of our clients would still need to visit us physically, for various needs and as such, we optimised our branch offices nationwide to ensure highest hygienic standards are maintained so that our customers feel safe and protected when they visit,” he said.