The Nation Newspaper

Category: Pension

  • Data Recapture: Regulator urges RSA holders to update records

    Data Recapture: Regulator urges RSA holders to update records

    The National Pension Commission (PenCom) has directed that retirement savings account (RSA) holders enrolled in the Contributory Pension Scheme (CPS) on or before July 1, 2019, must participate in the Data Recapture Exercise (DRE).

    The exercise, which covers active and retired RSA holders, began in August 2019.

    The commission made this known in a statement obtained by The Nation.

    The Director-General, PenCom, Mrs. Aisha Dahir-Umar, said that not participating in the DRE has significant implications for accessing pension services from Pension Fund Administrators (PFAs).

    For instance, she said only RSA holders who have completed their data recapture can transfer their RSAs from one Pension Fund Administrator (PFA) to another.

    Contributors who have not undergone recapture, according to her, will not be able to access retirement benefits upon retirement.

    Moreover, temporary access to 25 per cent of the RSA balance in cases of job loss and access to pension savings for procurement of residential mortgages are exclusively available to RSA holders who have completed data recapture, she added.

    She stated that RSA holders with multiple Personal Identification Numbers (PINs) who fail to recapture their data will experience delays in resolving their situations, potentially resulting in incorrect remittances by employers and delays in the payment of retirement benefits. Consequently, contributors with multiple RSA PINs must present all their RSA PINs during the data recapture process.

    She said: “It is crucial to note that failure to participate in the DRE affects RSA holders’ ability to update registration records in the future. For example, changes in name due to marriage, changes of employer, or alterations to the Next of Kin (NOK) information cannot be made if data recapture is not completed. Hence, it is in the best interest of RSA holders to participate in the DRE to avoid unnecessary delays in accessing services from PFAs. PenCom has instructed all PFAs to issue acknowledgement slips to RSA holders who submit complete documentation for their data recapture. RSA holders will receive text messages within five working days, notifying them of the status of their data recapture (whether successful or not) after document submission.

    “Active contributors must visit their PFAs and provide their Staff Identity Card or any valid means of identification, such as a National Driver’s Licence, Permanent Voter’s Card, or International Passport. Additionally, they should present their Enrolment Slip issued by NIMC and Birth Certificate or Sworn Affidavit of Age Declaration for the DRE. Retirees under programmed withdrawal or annuity should provide any valid means of identification, the Enrolment Slip issued by NIMC, and the Letter of Retirement issued by their employer for the DRE.

    Read Also: Partial compliance as Lagos workers join NLC strike

    “For RSA holders who have changed their surnames or first names, or both, after registration, the following documents must be presented to their PFA for recapture: Marriage Certificate (if applicable), Newspaper publication for the change of name, and Sworn Affidavit and Confirmation Letter for change of name from the employer (if still employed)”.

    Mrs. Dahiru-Umar further said that the commission remains committed to the effective regulation and supervision of the pension industry to ensure that retirement benefits are paid as and when due.

    “The necessity for the DRE arose from the vital requirement to collect and maintain current, comprehensive, and accurate data of RSA holders. Additionally, the DRE aligns with the Federal Government’s directive for all data-generating organisations to harmonise their databases with the National Identity Management Commission (NIMC).

    “To facilitate the DRE, PenCom introduced the Enhanced Contributor Registration System (ECRS). The ECRS is designed to verify the uniqueness of individuals registering under the CPS and update existing RSA holders’ records. The ECRS is seamlessly integrated with the NIMC.

    “It is mandatory for RSA holders in the public and private sectors, as well as retirees, to participate in the data recapture exercise to update their personal information, including biometric data such as photos and signatures”, she noted.

  • PenCom sensitises at trade fair on micro pension

    PenCom sensitises at trade fair on micro pension

    The National Pension Commission (PenCom) has sensitised Small and Medium Scale Enterprises (SMEs) and other informal sector workers on Micro Pension Plan (MPP) at the ongoing Lagos International Trade Fair.

    The Head, Micro Pensions Department PenCom, Dauda Ahmed, while speaking with journalists during the special day of the 137th Trade Fair organised by the Lagos Chamber of Commerce (LCCI), said the idea is to use a readily available platform like Trade Fair which brings in various stakeholders especially SMEs.’’These really are the groups we target’’,he added.

    He urged SMEs and other business owners to register for micro pension, stating that there are huge benefits therein.

    Ahmed said the turnout from the people was good in terms of making enquiries.

    He said: “We choose the LCII Special Day to showcase the micro pension plan. It has been an impressive experience because we got a lot of positive reactions. We interacted with SME’s that are present and even the general public that walks in to see PenCom stand and wonder what we do.

    Read Also: Old banknotes remain legal tender indefinitely, says CBN

    “We enlightened them on the things we do as a regulator and available products. We even explained to them how they can reach us if they have challenges too even with the mandatory plan which is the Contributory Pension Scheme”.

    Speaking on how Pension Fund Administrators will provide health insurance as an incentive to encourage workers in the informal sector to embrace micro pension, he said they are exploring it to ensure that people get all the benefits they ought to get.

    He disclosed that the industry is presently looking at providing health insurance and the modalities of how it can be funded.

    “We are saying that aside from the benefits of the plan in terms of opportunities to save, there are other streams of benefits. We know it is difficult for people to save. Some will ask what is in it for them if they subscribe. This is the kind of question that people ask And if you look at other jurisdiction where the plan is in operation, there are things that are put place to ensure that  people benefit while they are saving.

    “So for us as the regulator, we started to think that why can’t the PFAs provide incentives like health insurance for example.  Why don’t we key into the National Health Insurance Act (NHIA). If you save to a particular threshold for example, why can’t the PFAs take the cost off the participant as an added advantage to the people for participating in Micro Pension?

    “This is something that can give people the inspiration to continue to save. We are discussing with the PFAs and looking at how it can be funded, who is going to bear the cost and what is the threshold that should be considered”, he added.

    The LCII Chairman, Mr. Olawale Cole, said the trade fair avails producers and service providers the opportunity to interact.

    He said PenCom has taken a good step by coming to the trade fair to sensitise and enlighten the people to embrace micro pension.

    He also called on Nigerians to save through pension to earn an income when they are too old to work.

    Cole praised PenCom for the accomplished so far recorded.

    “This is possible because of PenCom’s innovative market friendly policies, introduction of products and services centered around value.  The commission has done well in encouraging voluntary contributions and inclusion of the informal sector in retirement plan”, he said.

  • PTAD: Resolving pensioners’ issues

    PTAD: Resolving pensioners’ issues

    OLUSOLA: My name is Olusola Ojediran, sgt. Rtd. I retired in 1994. I learnt that PTAD has harmonised the pension allowance of IGP, DIG, And AIG.And left C. P. To rank and file, pls what is the correct position on this. Thank you

    PTAD: The Directorate is yet to receive any formal directive on the harmonisation from the relevant authority.

    ADEWALE: Good Day, my name is Aladeokin, Cyber Cafe operator in Ado Ekiti, many retirees come to my business for I AM Alive verification. Many are successful but some were not after four to five attempts to take their picture before it locked up. The finger verification is also not working. Kindly help me to know how to go about the finger verification. Thank you

    PTAD: We have contacted Mr. Adewale directly.

    AKPAN: Good Day, my name Is Akpan.. I am one of the retired downsized officers of customs 2007. we were under Customs, Immigration And Prison Pension Office (CIPPO) before PTAD took over. Before the take-over, I was having with CIPPO arrears of pension from 2007 to 2009 as was paid to my colleagues of equivalent rank of level 09 step 13. Also my CONPASS arrears of gratuity amounting to  N1,582,182.36 was not paid to me as was paid to my colleagues. The arrears was prepared along with others and sent to AGF office (Deputy Director Special Duties). Whose duty is it to pay money to our individual bank account. I have sent my complaint and all the relevant documents to PTAD through their email since July, 2023. Yet no reply uptil now. Please, I need your help. Thank you.

    PTAD: Mr. Akpan Monday Sampson has been contacted directly. He is to send his Bank Statement for the period for resolution of the complaint.

    OGUNDARE: I am Ogundare. I did my “I am alive” capture around May 29, this year. I was given a confirmation number. Later, by October, I was told to recapture again and since then all efforts to get recaptured proved abortive as network-related issues are making it impossible. I hope my little pension won’t be stopped and also the process of going through the capture is stressful because network is frustrating.

    PTAD: ‘I am Alive’ confirmation is to occur every six months. So you will be due for another confirmation from November 29, 2023, six months after May 29, 2023.

    CLIFFORD: My name is Clifford. I have no pension number. I would like to know if I qualify for pension at age 60 in 2005. I worked with RBNL(UAC Div) 1975-1978 and SCOA Motors 1978-1988 thinking I would travel abroad.

    PTAD: UAC, SCOA Motors are private sector organisations. Mr. Fawehinmi should direct his question to the management of the organisations.

    Read Also: Partial compliance as Lagos workers join NLC strike

    RTD INSPECTOR RAPHAEL: Good day, I want to know if federal pensioners are included in the N35,000 President Bola Tinubu said should be paid to all Federal Government workers? If it is so, why are the states paying their pensioners? Are we not Nigerians that served this country? Please let me know?

    PTAD: This enquiry should be directed to the Federal Ministry of Humanitarian Affairs and Poverty Alleviation

    DUROJAYE: Thank you for your reply in The Nation Newspaper on  August 16, 2023 on my short payment of my federal pension since 2015. As requested, I have sent my bank statements since 2015 through email to PTAD on July 3, 2023.

    PTAD: Work in progress

    ANONYMOUS: Hello sir, my name is Kiriki. My federal pension has not been paid since February 2022 to date. When my pension number is slotted into the computer system, it showed number does not exist. I retired from MDA: TESCOM, Akure Ondo State, (Education). My date of 1st Appointment is January 1, 1972.

    PTAD: Pensioner to wait for reinstatement to payroll before retrying

    ADAJI: Hello The Nation Newspaper. PTAD through the newspaper of Wednesday June, 2022 page 26 confirmed that my gratuity has been computed for payment. I have been waiting patiently since then and nothing happened. Help me request that PTAD to release my gratuity.

    PTAD: Pensioner to provide verification slip to enable us investigate further

    ADESIYAN: My name is Adesiyan, I am one of the federal pensioner from Osun State. My problem is that I have tried to confirm my “I’M ALIVE” program for more 10 times. The message comes back as ‘Verification Failed and Faces do not Match’. What can I do to solve this problem?

    PTAD: Pensioner contacted and advised to locate a cyber café to do fingerprint option.

    ANONYMOUS:  Good day, I will like to know if my father is eligible for pension under Defined Benefit Scheme (DBS). He was appointed on July 3, 1989 and was removed on April 27, 1999.

  • ‘PTAD will consolidate on previous gains, resolve all outstanding issues’

    ‘PTAD will consolidate on previous gains, resolve all outstanding issues’

    • Pensioners, others affirm confidence on Executive Secretary

    Arrangement Directorate (PTAD) shall consolidate on the gains of the previous years to ensure the resolution of all inherited liabilities and commit to the welfare of our pensioners, the Executive Secretary, Dr Chioma Ejikeme, has assured.

    She spoke when she the executive members of the Federal Universities Pensioners Association (FUPA) in Abuja paid a courtesy visit  to celebrate her re-appointment as PTAD’s Executive Secretary.

    She charged pensioners to believe in their commitment towards the welfare of the PTAD Defined Benefit pensioner.

    Dr. Ejikeme, however, noted that there is still a lot to be done.

    She said: “I appreciate  the executives of the Federal Universities Pensioners Association FUPA on a congratulatory visit on my resumption of duty as the ES PTAD for a second tenure. With your support, we shall consolidate on the gains of the previous years to ensure the resolution of all inherited liabilities and commit to the welfare of our pensioners.

    “We enjoin our pensioners to believe our sincere commitment towards the welfare of the PTAD Defined Benefit Pensioner. There is still a lot to be done. For instance, we have Next of Kins (NOKs) verified and yet to receive payment,  inherited liabilities yet to be settled, harmonisation of pensions, implementation of the constitutional 5-year pension increments, and pockets of unattended complaints here and there.

    “A lot of mileage has been achieved in the past 10 years by PTAD, from field verifications to putting eligible pensioners on the payroll, regular payment of pensions, arrears, payment of death benefits, liquidation of substantial inherited liabilities to the I Am Alive Verification”.

    She stressed that the responsibility of Defined Benefit Pension as managed by PTAD is huge, noting that in the last 10 years of the Directorate’s existence under the management of different Executive Secretaries since inception, PTAD has carved out a niche for herself as a model organisation delivering innovative, efficient and sustainable pension services using technology.

    Read Also: Old banknotes remain legal tender indefinitely, says CBN

    While expressing appreciation to FUTA executives, she solicited more understanding and support, noting that she will never take them for granted.

    FUTA President, Chief Edwin Enyokwa thanked President Bola Ahmed Tinubu for the reappointment.

    He encouraged the Executive Secretary to continue with her disposition to matters affecting the welfare of pensioners, including payment of the approved palliative.

    The meeting had in attendance other executive members of FUPA from the six geopolitical zones and PTAD’s management team.

    In another development, the National Chairman, Federal Civil Service Pensioners (FCSP), Comrade Sunday Omezi, expressed gratitude to the President Ahmed Bola Tinubu, for the reappointment of Dr. Ejikeme.

    “We must say that the reappointment is a well-deserved one in view of her track record in the administration of pension, culminating in the prompt payment of monthly pensions, payment of pension arrears, as well as landmark innovations that has eased the process of pension management, and the overall improvement of pensioners’ welfare, such as the “I am Alive” initiative, which is aimed at determining the legibility of pensioners, as well as curtailing payment to deceased pensioners, thereby preventing the menace of ghost pensioners, which had previously incurred heavy financial losses to the government”.

    He, however, said that this is not to say that there are no teething problems, and room for more improvement, as it is always prevalent in any human endeavour.

    ‘’But the achievements made so far, are very visible and we hope that her second tenure will consolidate and complement the success so far achieved’’ the group said.

  • Insurers Committee highlights efforts to improve business

    Insurers Committee highlights efforts to improve business

    Insurers Committee rose from a closed-door meeting revealing that the National Insurance Commission (NAICOM) has again expressed concern over the backlog of unpaid claims with some insurance companies.

    The unpaid claim which is similar to unclaimed dividend would soon be publicised by insurers in order for the policyholders to forward to make their claims.

    Speaking for the Committee, Chairman, Sub-Committee on Publicity, Ebelechukwu Nwachukwu while briefing newsmen on the outcome of the committee’s meeting in Lagos, said the committee resolved that the unpaid claims should be publicised on the platform of the Nigeria Insurers Association (NIA) for the first three months to encourage those with lodged claims to come for it.

    She stated that after the three months and they see that the impact is still outstanding; companies may be mandated to do their own publicity.

    She pointed out that a lot of unpaid claims have been reported, but supporting documents were not provided, and as such they remain as outstanding claims for so many years.

    Nwachukwu, also Managing Director of Royal Exchange General Insurance, stated that NAICOM observed the practice during the ongoing Risk Based Supervision (RBS) in some insurance companies.

    She further stated that the commission warned operators against dealing with unlicensed brokers and agents to facilitate insurance businesses.

    She said: “The regulator spoke to us very strongly, to ensure that all the agents and brokers we deal with are licensed up-to-date or renewed, as against doing business with brokers with expired licences or unregistered agents,” she said.

    According to her, NAICOM also recommended self-regulation to underwriters, regarding RBS.

    The sub-committee chairman disclosed that NAICOM directed that boards of the various underwriting firms should approve and implement whistle-blowing policies in their respective companies.

    Nwachukwu said the committee also agreed on the need for the insurance industry to increase awareness of annuities and continue to build trust to ensure that the product line grows significantly.

    “With the amount of funds in the pension industry, we should expect a lot of that to be downloaded into the insurance industry through annuity. We further discussed the need for NAICOM to continue to engage the National Assembly to ensure the passage of the Consolidated Insurance Bill.

    “Insurers had also begun the process of harmonising the ECOWAS Brown Card to ensure that the same certificate is issued across all countries using the brown card”.

    Read Also: Partial compliance as Lagos workers join NLC strike

    She said the insurers also took a presentation from KPMG, as part of its planning for the insurance industry’s 10-year Transformation Roadmap.

    She also said that eight pillars were proposed to the insurance industry as part of the roadmap, which includes: continuous improvement of the regulatory environment.

    Nwachukwu said as part of the proposal, Risk-Based pricing and Risk-Based capital would become paramount.

    She stated that increased awareness and improvement in market conduct and ethics were proposed as part of the transformational roadmap to the future that the industry desires.

    The sub-committee chairman said that the presentation also suggested more partnerships with non-insurer players, just as it is done in the banking industry.

    She stated that the insurers were charged with digitalisation and improvement of the talent pool of the insurance sector and supporting the national economic growth plan.

  • AIICO, NEM, Dangote group,others shine at Almond Awards

    AIICO, NEM, Dangote group,others shine at Almond Awards

    The 2023 Almond Insurance Industry Awards and Consumers’ Nite tagged: #Rewarding Excellence, has held with insurance being sold through the entertainment industry.

    The event, which held at the Queens Park Events Centre Victoria Island Lagos, drew dignitaries from within and outside the insurance industry.

    The Awards Nite kicked off with comedy and musical performances from a list artiste like Harry Songs, Skales, Mr Real, Ill Bliss and a host of others who ensured guest were on their toes.

    The likes of Mr. Paul, Brain-Jotter, Short Family and others also cracked up guest at the event. The Almond Awards which was conducted via online voting over a period of six months started with calls for nomination from operators and the insuring public all the way to selection by the Award Panel of Judges before the final voting process and short listing of eventual winners.

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    Speaking at the award ceremony, the Chairman of the 2023 Award Panel of Judges, Ms. Prisca Soares, said that their duty was to ensure fairness and integrity of the process and she and her members did their best.

    According to her, the response from the general public and the industry was encouraging as over 1,797 people voted for nominees in the seven categories. 

    Six individuals selected and voted by the Awards Panel of Judges based on their understanding of the Nigerian market were also honoured for their excellent contribution to their companies and the insurance industry in general.

  • PTAD pays N1b accruedarrears to pensioners

    PTAD pays N1b accruedarrears to pensioners

    The Pension Transitional Arrangement Directorate (PTAD) has finalised the payment of the sum of N1.03 billion to 7, 091 pensioners of the Power and Transport Sectors of the Parastatals Pension Department (PaPD), the Executive Secretary of the Directorate, Dr. Chioma Ejikeme, has said.

    She made this known in a statement made available to journalists.

    According to her, the payment represents 39 per cent of the accrued pension arrears owed pensioners in the said sectors for the period August 2015 to September 2023 as a result of the computation of the monthly pension of pensioners of PaPD based on their career details, salary structure and applicable pension increments.

    Read Also:  PTAD chief: Losers against my reappointment

    She said the arrears were ascertained during the back-end computation exercise conducted by PTAD, where it was discovered that 7,091 pensioners in the Power and Transport Sector were being underpaid based on the Payroll inherited by PTAD.

    Dr. Ejikeme further disclosed the back-end computation exercise was necessitated by the need to ensure that each pensioner earns their rightful pension for fairness, equity and justice, in line with the Directorate’s mandate.

    She assured federal pensioners under the Defined Benefit Scheme that the Federal Government is committed to their welfare, and the arrears will continue to be paid until all accrued pension arrears are liquidated subject to the government funding.

  • PTAD: Resolving pensioners’ issues

    PTAD: Resolving pensioners’ issues

    ADEWALE: Good day, my name is Adewale, Cyber Cafe Operator in Ado Ekiti, many retirees come to my business for ‘I am Alive verification. Many are successful but some were not after four to five attempts to take their picture before it lock. The finger verification is not working. Kindly help me to know how to go about the finger verification. Thank you

    OJEDIRAN: My name is Ojediran, sgt.( rtd). I retired in 1994. I learnt that PTAD have harmonised the pension allowance of IGP, DIG, and AIG without doing same for CP rank and file. Please what is the correct position on this. Thanks.

    TIMOTHY: My name is Timothy from Oyo State. I have been on state and federal pension since October 25, 1993. I attended many verifications without asking for computation sheet which I have made all efforts to get from Ministry of Establishment, Ibadan.  At the last mop up, I submitted all documents but I was not cleared because of computation sheet. My monthly federal pension of N2,511.57 has been stopped since 2019 or thereabout. Kindly return my due because ’I am ALIVE’ .

    ANONYMOUS: Please whose duty is it to pay this money to our individual bank account. I have sent my complaint and all the relevant documents to PTAD through their email since July, 2023. I do not get any reply till date. I need your help.

    SAMPSON: Good day, my name is Sampson, I am one of the retired downsized officers of Customs 2007. We were under Customs, Immigration and Prison Pension Office (CIPPO) before PTAD took over. Before the takeover, I had pension arrears from 2007 to 2009 with CIPPO as was paid to my colleagues of equivalent ranks of level 09 step 13. Also my CONPASS arrears of gratuity amounting to N 1,582,182.36 were not paid to me as was paid to my colleagues. The arrears was prepared along with others and sent to AGF office {Deputy Director Special Duties} whose duty it was to pay.

    Read Also: PTAD: Resolving pensioners’ issues

    CLIFFORD: My name is Clifford. I worked with RBNL (UAC Division) from 1975 to 1978. I left SCOA Motors 1978 to 1988 thinking I would travel abroad. But I didn’t. I would like to know if I qualify for pension at age 60 in 2005. I have no pension number.

    ADAJI: Hello The Nation Newspaper. PTAD through the newspaper of Wednesday June, 2022 page 26 confirmed that my gratuity has been computed for payment. I have been waiting patiently since then and nothing happened. Help me request that PTAD to release my gratuity.

    PTAD: Pensioner to provide verification slip to enable us investigate further

    ADESIYAN: My name is Adesiyan, I am one of the federal pensioners from Osun State. My problem is that I have tried to confirm my “I’M ALIVE” programme for more 10 times. The message comes back as ‘Verification Failed and Faces do not Match’. What can I do to solve this problem?

    PTAD: Pensioner contacted and advised to locate a cyber café to do fingerprint option.

    ANONYMOUS:  Good day, I will like to know if my father is eligible for pension under Defined Benefit Scheme (DBS). He was appointed on July 3, 1989 and was removed on April 27, 1999.

    PTAD: No name and details provided.

    ABDULLAHI: I am Abdullahi from Jos Plateau State. My father was a staff of the Ministry of Defence, civilian units for 16 years before he died in 1995. I have attended various screening and verifications and the last one was in Jos in 2017. I have submitted all the required documents for the payment of gratuity and pension benefits as a Next of Kin (NOK), but up to no avail. In 2020 I was called from PTAD to submit some documents including bank account details which I did. From your publication of my case, PTAD is asking for is verification number which I scanned and sent since then. I hope Omobola will assist me.

    PTAD: NOK should provide deceased name and bank statement.

    OPADEJI: Good day, I thank you for the humanitarian job you are doing to correct anomaly arising from pension payment to pensioners. Please help me out of my predicament. My name is Opadeji. I retired from NITEL on January 21, 2001 on grade level 14 as senior manager. I participated in the NITEL verification exercise in 2001 and PTAD verification exercise in 2005 respectively. In 2005, when I was going for pensioners verification exercise, my documents were missing and I sworn to an affidavit on the loss of the documents. On the basis of the loss, PTAD placed me on grade level 9 and I sent complaint emails to PTAD several times but no action was taken on my complaint email. I, therefore, took the risk of traveling to Abuja PTAD office when the original copy of letter of promotion was delivered to me by a good Samaritan. My salary was subsequently readjusted to grade level 14 but less than my salary before the verification exercise and also far less than the pension being paid to my colleagues on the same GL 14. Therefore, I sent many complaint emails but returned undelivered perhaps my emails have been blocked. Since then, I have accepted my fate. Now that I have the opportunity to forward my complaint through you to PTAD, I shall be grateful if my complaint can be treated with utmost concern. Thank you.

    PTAD: Pensioner is on payroll. Pensioner’s grade level readjusted from grade level 9 to 14 step 10. He should provide Bank Statement from January 2018 to date for reconciliation.

  • ‘Stay humble, pensions will never be sexy’

    ‘Stay humble, pensions will never be sexy’

    Getting younger workers to engage In planning for their retirement demands a hook to pique their interest, says Nikki Trip, founder of JIIP, a network for pension professionals under 35 in the Netherlands.

    Stay humble, Trip told attendees at a panel on financial influencers at the P&I WorldPensionSummit.

    “Pensions are not sexy,” she said.  “They will never be sexy.”

    When she talks to peers, she said, she’ll tell them that one day a week, they’re working for their pension. That gets their interest, she notes.

    Read Also: Access Pensions surpasses N1tr AUM milestone

    Another strategy: promoting a meeting on salary matters, but bringing in a pension expert in the last five minutes.

    While a hook is key, Trip said it’s equally important to communicate the value of savings — the value they’re creating now as well as the value they’ll receive many years down the road.

    • Culled from  Pensions&Investments
  • Stanbic IBTC Pension FUZE Talent Show wins award

    Stanbic IBTC Pension FUZE Talent Show wins award

    Stanbic IBTC Pension Managers, a subsidiary of Stanbic IBTC Holdings and leading Pension Fund Administrator (PFA) in Nigeria has announced receipt of the Judges’ Choice Award for Excellence and Innovation in the Communication and Engagement category at the WorldPensionSummit.

    In a statement by the PFA, the recognition was for the 2022 FUZE Festival organised by Stanbic IBTC Pension Managers in its attempt to meaningfully engage Nigerian youths through its talent show and festival.

    The PFA stated that the award ceremony took place recently at the renowned Louwman Museum in The Hague, The Netherlands, as part of the Pensions & Investments WorldPensionSummit 2023. The event served as a platform for industry leaders, experts, and innovators to convene, exchange knowledge, and recognise exceptional achievements in the global pension industry.

    Chief Executive, Stanbic IBTC Pension Managers, Olumide Oyetan said: “The WorldPensionSummit Judges’ Choice Award highlights and celebrates outstanding initiatives and proven solutions in pension. An external expert jury meticulously evaluated all nominations in the various categories and Stanbic IBTC Pension Managers was shortlisted as nominated finalist in three categories – Pension Fund Design and Reform; Investments; and Communication and Engagement. The company was recognised alongside 32 other finalists and 10 winners from 17 countries.

    “Stanbic  IBTC Pension Managers won the Award for Excellence and Innovation in the Communication and Engagement category. According to the Judges, Stanbic IBTC Pension Managers’ FUZE is bold and personal in the way it reaches out to new generations. It is well set up and prepared, it involves the relevant stakeholders and is an example of out-of-the-box thinking in the pension and financial sector.

    This award recognises Stanbic IBTC Pension Managers’ commitment to delivering innovative solutions in the pension industry.

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    “We are honoured to receive the Judges’ Choice Award for Excellence and Innovation in Communication and Engagement. This achievement underscores our continuous dedication to employing cutting-edge strategies and technologies to enhance the perception of pension and the financial industry in Nigeria and globally. We will continue to champion initiatives that foster positive youth engagement, provide our valued pension contributors with seamless experiences, and empower them to make informed decisions for a financially secure future.”

    Olumide thanked the judges, organisers, and participants at the Pensions & Investments WorldPensionSummit 2023; the exceptional staff of Stanbic IBTC Pension Managers; as well as clients, stakeholders, and Nigerian youths for their passion and dedication to excellence.

    Olumide further remarked that FUZE 2023 will be even bigger and better. He said “We are taking things a notch higer this year as the 2023 editon features a two-week boot camp period with 28 finalists competing, honing their skills and engaging with industry experts to aid their overall development. As with 2022, the finals will hold in December and winners will be unveiled at the FUZE Festival which will also feature a vibrant marketplace and live concert.”

    The Chief Executive invited the general public to engage with the FUZE Festival on digital and social media platforms; inviting them to download the Stanbic IBTC Events App so they can register to attend the FUZE Festival scheduled to hold 23 December 2023.