The Chief Executive, Stanbic IBTC Pension Managers, Eric Fajemisin, has said that the Pension Transfer Window is an opportunity for Nigerians to secure their future. He made the declaration at a recent press briefing with the aim “to enlighten the public, through the media, about pensions generally and specifically to discuss the long-anticipated pension Transfer Window”.
The Transfer Window, Fajemisin said, offers a unique opportunity for contributors in the Contributory Pension Scheme (CPS) to move from one Pension Fund Administrator (PFA) to another. He added that the window 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,” Fajemisin said.
He explained that Stanbic IBTC Pension Managers has a strong track record of professional service delivery and take very seriously its responsibility to ensure transparency in all its operations, offer easy, efficient and convenient solutions to its over 1.8 million customers and ensure the safety and long-term value of contributors’ funds.
This year, Fajemisin said, 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,” Fajemisin said.
He added that Stanbic IBTC Pension Managers prioritise the ease of retirement pay-outs and therefore optimised its service delivery such that contributors’ can easily apply for their benefits from anywhere in the world with minimal fuss. While the company’s website provides extensive information on the support available for clients, they have taken things a notch higher to revamp its pension calculator and create a budgeting tool to enable contributors better manage their personal finances and plan effectively for long-term financial success.
“Frankly, the success of our clients is critical to us, and that is why barring the challenges in the past eight months, we created several virtual engagement sessions and financial academies for young professionals, near retirement individuals, retirees and even the children of our clients via our Financial Fitness, Pre-retirement seminars and New School Money events. Our goal is to ensure our clients retire well.
“To add even more value in these difficult times, we launched a loyalty program – Umatter, which allows clients to enjoy discounts at our partner-merchant locations just because they are customers of Stanbic IBTC Pension Managers. After all, every naira saved today can positively impact the future when invested in the right way.
“Stanbic IBTC Pension Managers is a member of the over 150-year-old Standard Bank Group and is backed by a strong network of reputable financial institutions. For over two decades, we have managed funds for companies and individuals, making us Nigeria’s largest PFA with total assets under management worth over N3.5 trillion,” Fajemisin added.
The Chief Executive said Stanbic IBTC Pension Managers is excited about welcoming new customers through the Transfer Window, and remains committed to walking the long road with them to a healthy retirement. “2020 has brought several unprecedented events, however, at Stanbic IBTC, we celebrate the resilient Nigerian spirit, we believe in dreams, and we always encourage each other and those connected to us that whatever life brings, our dreams remain valid and no matter what we picture for the future – IT CAN BE,” he concluded.