PFA Doles Out N87bn To Retirees

Premium Pensions Lim
ited (PPL) says it has paid over N87 billion to retirees and next-of-kins  of contributors into the Contributory Pension Scheme under its administration.
The pioneer Pension Fund  administrator said the figure was paid to a total  of 33,000  retirees  and relatives of deceased contributors in its portfolio  between 2007 and 2015.
Managing Director of the company, Mr.  Wilson Ideva, who disclosed  this in his addressed at the Annual General Meeting of the National  Association of Insurance and Pensions Correspondents (NAIPCO) held in Lagos  midweek said  Premium Pension has pension assets under its management  in excess of N370  billion and pension enrollees under its management spread in over 1000 organisations across the country.
Ideva said  his  organisation has already been firmly established as a key player in the Contributory Pension  Scheme, adding that the  company recently adopted a robust pension administration software  to enhance  its operations.
“Professionalism in pension service rendition at premium pension is complemented by the company’s adoption of the robust Canadian Pension Administration Software (CPAS).
“We  are partnering with this organisation to ensure   continued cutting-edge service delivery  and all the relevant staff operating this  software have been adequately  trained in Canada by  CPAS,” he said.
Ideva, who was represented at the event by the Head, Corporate  Department, Mr. Paddy Ezeala also said Premium Pension has consistently posted return on investment of pension asset well above industry average and above inflation.
According to him, the company was being run by young Nigerian  professionals and wholly Nigerian board of diverse backgrounds  and competences.
He also said  that this was aimed  at facilitating its operations and enhancing customer service  and interaction.