Nigerian leading pension services provider, Stanbic IBTC Pension Managers, a subsidiary of Stanbic IBTC Holdings PLC, has said that the commencement of the Transfer Window programme is a positive development that democratises pension fund management in the country and gives pension fund contributors the freedom to choose their preferred pension fund administrator.
The Transfer Window, under the Pensions Reform Act of 2014, is an opportunity for Retirement Savings Account (RSA) holders to switch from one Pension Funds Administrator (PFA) to another. This window officially opens on 16 November 2020, as advised by the National Pension Commission (PenCom).
Eric Fajemisin, Chief Executive, Stanbic IBTC Pension Managers Limited, said that, as the premier pension fund administrator in the country, Stanbic IBTC Pension Managers has remained efficient in delivering optimal client experience.
According to him: “Our leadership in the industry is a reflection of the continued delivery of quality service through dedicated, focused and professional staff, who have continued to set the standard for pension fund administration and contributor management in the country. Over the years, we have leveraged our deep understanding of corporate governance to build the trust of our stakeholders, and this has positioned us as the largest pension fund administrator in Nigeria by Assets under Management (AUM), worth over N3.5 trillion.”
Fajemisin added that Stanbic IBTC Pension Managers has a proven record of financing, tracking and protecting investments in the pension space. He said: “As managers of the largest Retirement Savings Account (RSA) Fund in Nigeria, our flagship fund which is the RSA Fund II has consistently outperformed industry peer average. This sustainable performance has also ensured our RSA Fund II has remained top three in the last ten years. Furthermore, our Retiree Fund (RSA Fund IV) has consistently maintained an ‘above industry’ performance year on year.
We are the recipients of many awards, and most recently, were named the ‘2019 Best Asset/Fund Management Company in Wealth and Society in West Africa’ and ‘Most Active Buy-side Participant in the Fixed Income Market’ in the FMDQ 2019 & 2020 GOLD Awards”.
The Stanbic IBTC Pension Managers’ Chief Executive urged RSA holders across the country to participate in the ongoing Data Recapture Exercise which will enable them take advantage of the Transfer Window and switch to Stanbic IBTC Pension Managers. He assured contributors of safety, transparency, convenience and quality service at all times.