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Published On: Wed, Dec 6th, 2017

Stanbic IBTC Pension Managers pays retirees N279bn

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From Ngozi Onyeakusi, Lagos

Stanbic IBTC Pension Managers says it has paid over N279bn to retirees inception in 2006.
According to the firm, between January and June this year, over 5,000 new retirees also received their benefits from the PFA, increasing the number of individual retirement savings accounts holders nationwide with the firm to over 1.5 million.
It added that a total of N16.6bn was paid to retirees from January to June this year.
The firm said the figures were reeled out as it examined its 2017 half year performance with a view to retooling for higher performance in the years ahead.
Commenting on this, the Chief Executive, Stanbic IBTC Pension Managers Limited, Mr. Eric Fajemisin, stated that the company had more than N1.7tn in assets under management, an evidence of its proficiency at ensuring safety and return of value on investment to RSA the holders through higher standards of service delivery.
It added that the performance demonstrated the potential of the pension industry to pool the requisite funding to support Nigeria’s economic development.

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