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Stanbic IBTC Pays N800bn To 62,000 Retirees

Oluwasina Phillip

STANBIC IBTC Pension Managers Limited has paid over N800bn to over 62,000 retirees since inception.

The company disclosed this during its 2021 virtual Employers Forum, while reiterating its commitment to delivering value in the area of pension contributions across the country.

Chief Executive Officer, Stanbic IBTC Pension Managers Limited, Olumide Oyetan, noted that the pension transfer window was a positive development for the pension industry.

He said it would offer stability and sustainability to the industry while also benefiting contributors.

According to the CEO, Stanbic IBTC Pension Managers remains the largest Pension Fund Administrator in Nigeria, both in volume of Retirement Savings Accounts and value of Assets Under Management

Oyetan spoke on the theme, ‘Pension Administration in the New Normal’.

He said, “We do not take the confidence reposed in us by the contributors for granted. As an institution with over 155 years of proven track record in Africa, we remain committed to enabling dreams, expertly managing contributors’ funds and partnering with you to develop our industry and economy.

“Before we begin, please permit me to appreciate each of you, our partners, for your continuous support over the years. Despite the pandemic and other recent unsettling events, you have remained committed to delivering value in your spheres of influence, while also partnering with us to add value to pension contributors across the country.”

“We are immensely grateful to you for your continuous support of the Contributory Pension Scheme. Some of you are not just partners but also our clients, who have entrusted us with supporting their retirement journey. We do not take the trust, support, and consistency through the years for granted,” he stressed.

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