The Nation Newspaper

Tag: Premium Pension

  • Premium Pension names Yakubu board chairman

    • Bade Adeshina joins board

    Premium Pension Limited, one of the Pension Fund Administrators (PFAs) in the country has appointed Architect Yunusa Yakubu as the Chairman of its Board of Directors.

    A statement by the company’s Head, Corporate Communications, Paddy Ezeala, said his appointment was ratified at the company’s recent Annual General Meeting (AGM).

    Yakubu was until his appointment the Chairman of the Board’s Committee on Strategic Growth. He takes over from the out gone Chairman of the Board, Mr. Aliyu Abdulrahman Dikko.

    A successful businessman and versatile consulting architect, Yakubu obtained a B.Sc. in Architecture in 1984 from Ahmadu Bello University, Zaria and followed up with an M.Sc.   in 1986.

    He started his career with the Ministry of Works and Housing in Bauchi State in 1987. While there, he worked on the designs and supervision of buildings, including the local government secretariats, political party offices and the state’s liaison office in Abuja.

    In 1993, he moved to the Ministry of the Federal Capital Territory as Project Coordinator, Maintenance Department. From there he left to join the private sector and established Globarch Associated as managing consultant in 1995.

    Yakubu served on the board of Suntrust Savings and Loans Limited as a director and he was appointed by the Federal Government as a member of the Governing Council of Abubakar Tafawa Balewa University, Bauchi.

    In the same veinAlso announced is the appointment of Mr. ‘Bade Adesina into the Board. Mr. Adeshina brings immense wealth of experience into the company. He holds B.Sc. and M.Sc. degrees in Finance from University of Lagos and obtained a diploma in Information Science/Systems from University of Ibadan.

    He is an Honorary Member of the Chartered Institute of Bankers of Nigeria, a Fellow of Certified Pension Institute of Nigeria, and Association of Investment Advisers & Portfolio Managers, member of the Institute of Directors and Chartered Institute of Stockbrokers.

    He started his career as a Graduate Assistant/Senior Information Officer with the University of Lagos from where he moved to the banking sector.

    He has over thirty years experience in Financial Management services in both commercial and investment banks amongst which are Afribank Nigeria Plc (formerly Mainstreet Bank and now part of Skye Bank Group), Afribank International Bank Limited (Merchant Bankers) and Access Bank Plc.

    From Access Bank he resigned his appointment as a General Manager to join CDL Asset Management Limited as the pioneer Managing Director/CEO.

    Adesina resigned his position with CDL Asset in August 2013 on appointment to Cabinet position as Special Adviser (Ministry of Economic Planning, Budget & Development) to the Executive Governor of State of Osun.

    He is currently the Managing Director, Goldfield Group, which comprises organisations offering financial and management consulting to high net worth individuals; corporate and project finance advisory services, securities brokerage and real estate investment/management as well as pension funds management.

    He has attended several local and international training programmes during the course of his career at renowned business schools including the prestigious Harvard Business School.

    He is currently on the Board of Apricot Investments Limited as well as being the Chairman, Board of Directors, Crownhead Capital Limited and AremottBanwill& Co. Limited, a reputable insurance brokerage firm of over thirty years operation.

  • Premium Pension opens regional office in Lagos

    Premium Pension Limited has unveiled a regional office in Lagos to cater for its active and retired clients within Lagos Island, Ikoyi and Victoria Island.

    The National Pension Commission (PenCom) has lauded the company’s giant strides, especially in the area of better service delivery to Retirement Saving Account (RSA) holders and retirees.

    PenCom Director-General Mrs. Chinelo Anohu-Amazu, who was represented by the Commissioner, Inspectorate (PenCom), Prof Mohammed Kaoje, at the unveiling, said the company was improving on its spread, which has helped bring services to retirees.

    Premium Pension Chairman Aliyu Dikko said although the road to success has not been smooth, the company was working assiduously to achieve its vision and mission.

    According to him, the company’s vision and mission were centred on superior customer satisfaction in active and retirement life through best practice. He stated that in line with the vision of the company, it has implemented a number of initiatives that has led to major milestone in the pension industry.

    He said: “The achievements were made possible due to the commitments and dedication of board, management, staff and support of shareholders of the company. We applaud PenCom for its efficiency and support because without prompt regulation and guidance the company and the industry would not have been where they are today. We assure the commission of policy of zero tolerance to non-compliance with regulatory requirement.”

    The firm’s Managing a Director, Wilson Ideva, said the company has paid  N118 billion as benefits to retirees and client and has excess of 16, 000 retirees in its pay roll.

    He noted that the company has established 20 branch networks and 23 pension centres across the 36 states of the federation with its head office in Abuja.

    “Today, we are one of the leading Pension Fund Administrators (PFAs) in the country. The establishment of standard branch offices nationwide is to bring premium services closer to clients.

    “The new office will afford us the opportunity to serve its existing RSA holders better and equally provide them the platform for our potential RSA holders such as the movie industry, sports, professional group and high net worth  self- employed specs list and provide them the chance to enroll under the Contributory Pension Scheme, thereby ensuring real rest at retirement. The office was established with state-of-the-art facilities in terms of technology and strong human capital. It will afford us the opportunity to serve existing RSA holders better,” he said.

    Lagos State Acting Head of Service,  Folasade Adesoye, applauded the firm for its contributions to the development of the industry, adding that the new office will not only add value to pension contributors and retirees, but also add value to Lagos State by way of employment.

    Adesoye said she has watched with keen interest, attempts by Premium Pensions to entrench herself in the state. An office was opened sometime in 2015 in Ikeja just to service contributors and retirees along that axis and now, we are witnessing this move to service the Lagos Island, Ikoyi and Victoria Island customers.

    “At the commencement of the Contributory Pension Scheme (CPS) in the state, we approved only six out of the then 26 PFAs to be registering the state government, local government and parastatals employees. Each employee was allowed to exercise his or her right to choose the manager of their pension account out of the approved six PFAs.

  • Premium Pension is Pension-Company-of-the-Year

    Premium Pension Limited has emerged the winner at the 3rd BusinessToday Online Pension Company of the Year Award, 2015.

    The company was represented by Mr. Paddy Ezeala, the Head of Corporate Communication who described the award as the reward for commitment, dedication and tenacity of purpose.

    He said that the award also underlines the solid and productive relationship between the company and the media in the area of awareness generation on the workings and benefits of the pension industry..

    Speaking on the awards, Managing Director of BusinessToday Online, Ms. Nkechi Naeche said the award which is in its third edition seeks out exceptional individuals and companies.

    She stated that the companies and individuals have been outstanding in advancing the insurance and Pension industries within a particular year.

  • Premium Pension sensitises desk officers

    Premium Pension Limited has organised an enlightenment forum for some Pension Desk Officers and human resources managers drawn from both the public and private sectors.

    Speaking during the event, which held at the headquarters of the company in Abuja, its Managing Director, Wilson Ideva, said the event was aimed at creating awareness for the Contributory Pension Scheme (CPS).

    He said the event was the first in the series, intended to cover many establishments.

    Welcoming the participants, Ideva stressed the importance of the forum as an avenue for interaction between the company and officials saddled with pension issues in public and private establishment.

    He said it served as an intermediary between them and their various establishments, noting that the level of compliance with the pension scheme would further increase if we all worked together.

    He pointed out that the company has resolved to be a major contributor to the growth of the industry and that it is the first and only Pension Fund Administrator (PFA) in the country to receive the Information Security Management System ISO-27001:2013 certification by British Standard Institute (BSI).

    He said it was a testimony to the firm’s information security, service delivery, corporate governance and global best practice.

    The Chief Marketing Officer (CMO) of the company, Kabir Tijjani, said the forum was also meant to provide an enabling environment to engage with the relevant officials on the challenges they face in the discharge of their duties.

    He said participants were enlightened on various issues, including the use of Electronic Pension Contribution Collection System (EPCCOS), and its benefits.

    Participants were also made to understand the workings of the Additional Voluntary Contribution (AVC); its remittance and collection, the unfunded Retirement Savings Accounts and other challenges encountered by RSA holders.

    The representative of the Comptroller of Prisons Mr. Lucas Dapak praised the management of Premium Pension for its professionalism.

  • Premium Pension gets ISO-27001:2013 certification

    Premium Pension gets ISO-27001:2013 certification

    Premium Pension Limited (PPL) has achieved ISO 27001:2013 (Information Security Management System) in its bid to further enhance the confidence of its Retirement Savings Account holders, retirees, regulators and other stakeholders in its operations.

    The company’s ISO 27001:2013 certificate presentation ceremony held in Abuja was witnessed by the National Pension Commission (PenCom) along with British High Commission and other pension operators places the company to be the first Pension Fund Administrator (PFA) in the country to be certified.

    PenCom Director-General, Mrs. Chinelo Anohu-Amazu, represented by its Commissioner Inspectorate, Prof Mohammed Kaoje Abubakar said the ISO certification is well deserved following positive contributions of the company to the Contributory Pension Scheme (CPS) in the past 11 years.

    Abubakar said the Commission has been able to move the pension industry from a pension deficit to about N5.1 trillion following the introduction of CPS in 2004.

    He however congratulated Premium Pension on its ISO certification noting that the company has been an active player in realising the huge growth in the industry.

    He said: “The CPS came into force with the establishment of the Pension Reform Act 2004. Before then, the industry was bedeviled with many problems but I want to state categorically that since the advent of the CPS, the industry has been growing and we are able to move out of pension deficit to about N5.1 trillion pension fund under management.

    “Premium Pension has been an active player and they should also share in this credit. One of the achievement of CPS is that pensioners get their benefit as and when due.

    “Most importantly, since the advent of CPS, we as regulator and operator have not been found wanting. In this kind of fiduciary responsibility that we ought to discharge. There has been no sharp practices and I think all of us will take credit for this. The ward is well deserved and PenCom is very proud of Premium Pension”, she said.

    In a welcome remark, Chairman, Premium Pension, Aliyu Dikko stated that the achievement of the ISO 27001: 2013 certification is a visible proof of the company’s commitment to meet internationally accepted data security standards.

    According to him, the certification means to the company is to demonstrate that it has placed information security as a priority, while reassuring stakeholders that a best practice security system is in place with a strong compliance with PenCom IT standards.

    Managing Director, Premium Pension, Wilson Ideva said the company has N382 billion pension fund under its management and has paid a total of N93,4 billion to retirees since 2005.

    He explained that the certification is a self-imposed duty by the company in ensuring that its information security management system meets with the expectation of its stakeholders  especially its highly valued RSA holders and legacy Pension Funds owners that have entrusted their funds to the management.

    He added that by this certification further demonstrate the company’s zeal in ensuring the safety of legacy funds.

    For our board and management, the certification is another indication of First and a measure of its strong corporate governance anchored on global best practices, he said.

  • Premium Pension preaches wellness

    Premium Pension preaches wellness

    premium Pension Limited has emphasised the need to adopt health-improving lifestyles to enhance the achievement of both organisational and industry goals.

    Its Managing Director, Wilson Ideva spoke at the company’s corporate forum for general wellbeing during the management retreat at the Eko Hotel, Lagos. The theme of the retreat was “Lifestyle Modification for Peak Performance.”

    Ideva said a positive balance sheet and consistent good returns on investment without a foundation of good health anchored on positive and healthy lifestyle is like building castle in the air.

    He recommended positive lifestyles and placement of high premium to the health of all the firm’s clients and retirees whose longevity would impact positively on their business.

    The high incidence of sudden death among executives in the country was decried during the retreat while workers were enjoined to adopt healthy lifestyle which encompasses healthy eating habit, physical exercises, relaxation and proper organisation of activities.

    He said Premium Pension has been carrying out medical checkup on retirees who attend retirees’ forums held across the country.

    “We render high quality pension fund administration with emphasis on technology, high return on investment and customer care and we believe retirees should be in good health to be able to enjoy pension. Our staff should also not be seen operating below capacity owing to poor health, Ideva said.

    President, Byron Institute, Dr. Charles Cudjoe, who facilitated the retreat dwelt extensively on the need for executives to modify their lifestyles to ensure peak performance.

     

     

  • Premium Pension grows assets to over N380b

    Premium Pension Limited has  grown its pension assets to over N380 billion, its Managing Director, Wilson Ideva, has said.

    Ideva, who made this known while speaking with reporters in Abuja, said the company has in 10 years paid out at least N81 billion in terms of retirement benefits in monthly withdrawal.

    He also said the company has funded Retirement Savings Account (RSAs) of over 400,000, noting that the registration is well over 500,000.

    He added that in terms of retirement, the company is managing over 16,000 retirees and pays them as and when due, on the 19th of every month, to be precise.

    He said: “We have funded RSA of over 400,000 and so far, we are in all the states of the federation. We have what we call approved branches, which are in about nine locations and we have recently opened up six branches awaiting the approval of our regulator, the National Pension Commission (PenCom).

    “We also have what we call Pension Centres, which are all over the 36 states of the federation and in some states we have more than one or two Centres. “

    He said the idea is that they have to be widespread because they are dealing with both the public and private sectors and they don’t want clients to be looking for them.

    “Anywhere we are, we want our clients to see us. The issue of pension is a very serious issue. It is highly emotive. Our past in Nigeria with regard to pension management, has not been pleasant. But I will beg to say that we are determined to let the world know that Nigerians can do it and we can do better and that is why you will see that money and time have been spent on this corporate headquarters in terms of structure and working technology.

    “In line with the Pension Reform Act 2004, all the Pension Fund Administrators (PFAs) were licensed by PenCom and Premium Pension was one of the very few that were licensed in 2004. We are in our 10th year as PFAs. But I will say that in the last 10 years, we have been able to distinguish ourselves in the pack of all the PFAs and we have made tremendous impact both on our clients and on the economy.

  • Premium Pension director is CIS fellow

    Premium Pension director is CIS fellow

    The Executive Director, Business Development and Investment, Premium Pension Limited, Adamu Mele, has been elevated to the fellowship of the Chartered Institute of Stockbrokers (CIS).

    Mele who has been a member of the Institute since 1994 was before the elevation an Associate Chartered Stockbroker.

    The Managing Director of Premium Pension Limited, Wilson Ideva while congratulating Mele, said it would rub off positively on the fortunes of the company and by extension, the pension industry.

    He said: “Mele’s elevation complements our core value of professionalism and further brightens the future of the company. A tested and well-grounded investment expertise is the primary ingredient for the growth of pension funds.”

    Mele’s expertise covers economic and investment research, financial advisory services, asset management, capital market regulation and administration.

    He is a law graduate of the University of Maiduguri with an MBA from the University of Ado Ekiti. He has held several positions in financial management and administration in various organisations, including Head, Northern Region, of IBN Securities Limited (a subsidiary of First Inland Bank Limited) and CEO Tiddo Universal Securities Limited (Member Nigerian Stock Exchange).

  • Premium Pension, Niger sign fund’s management agreement

    Premium Pension, Niger sign fund’s management agreement

    The Niger State government has signed a portfolio management agreement with Premium Pension Limited, a Pension Fund Administrator (PFA).

    In a statement signed by Head, Corporate Communication, Premium Pension, Paddy Ezeala, the agreement confers on the PFA, the authority and responsibility of managing the state’s benefits fund named, “Retirement Redemption Bond Fund”.

    He said while the Managing Director, Premium Pension Mr. Wilson Ideva, and Executive Director, Business Development and Investment, Mr. Adamu Mele signed on behalf of the company, the Director-General of the Niger State Pension Board, Alhaji BenuYahaya Ahmed signed on behalf of the government.

    He said the fund was established by the government through the Niger State Pension Board and has been endorsed by the National Pension Commission (PenCom).

    The fund emphasises, among others, that the funds and assets held in them must be managed in accordance with the guidelines issued pursuant to the Pension Reform Act 2004 and also accords Premium Pension the responsibility of the lead PFA in the state.

    Speaking on the development, Ideva said: “This is a practical demonstration of mutual trust and highly productive partnership required to drive the contributory pension scheme in the country.

    “We must continue to justify the confidence reposed in us by the Niger State government through rendering quality service marked by high level of professionalism.

    “The agreement states clearly that the appointment of the PFA shall be of a fiduciary nature consistent with the requirements of the law and that it shall exercise utmost duty of care and good faith in all their undertakings under the terms of this agreement.”

    Other officials of the Niger State Pension Board present at the event include permanent member, Finance, Investment and Inspectorate, Alhaji Mohammed Ndagi, and Mr. Mohammed B. Abdullahi, the board secretary and legal adviser respectively.