FUG Pensions positions for market competition, contributor value

Future Unity Glanvills (FUG) Pensions Limited is positioning itself as a market leader in the nation’s pension industry, with new state-of-the-art corporate head office with upgraded information technology, two standing disaster recovery centres, increased human capacity development and growing returns on investment for contributor benefits.

The PFA, incidentally one of the late entrants into the industry having been licensed by the National Pension Commission (PenCom) in June 2007, has shown strength in market completion, providing benefits and increased value to its teaming customers.

Usman Suleiman, managing director/CEO, FUG Pensions Limited, who spoke during with insurance and pension journalists in Lagos, said the firm had been positioned to contribute significantly to the overall industry achievement, having provided excellent and constantly improving service in the last seven years of its existence.

“Indeed, it is for this reason that we are now located in our own purpose built head office complex in Yaba, Lagos – one of the few PFAs to operate out of their own office property. This complex, not only boasts of upgraded information technology equipment, but indeed the most up-to-date communication facility in the industry, all in the service of our customers,” he said.

Suleiman stated the firm, in living up to its vision, which is to be a leading and most trusted name in pension management, was operating in six fully equipped regional offices located in Lagos, Port Harcourt, Ibadan, Abuja, Kano and Maiduguri, with Abuja office also serving as the hub of all operations in the Northern part of the country. We likewise have 21 states and zonal offices spread across the country, and perhaps the only PFA with two simultaneous disaster recovery sites located in Lagos and Abuja, he noted.

The firm has been appointed in 11 out of the 15 states that have keyed into the contributory pension scheme, he said, stressing that the firm is in two out of the three states considered best in pension contributions, and who were recently given awards by President Goodluck Jonathan as part of activities to mark the 10^th anniversary of the Pension Reform in Nigeria.

“In addition to the states, FUG Pensions is widely recognised in both public and private sectors. Our company is one of the PFAs managing Nigerian National Petroleum Corporation (NNPC) pension scheme; we are the lead PFA for the Federal Airports Authority of Nigeria and the Union Homes Staff Legacy Pension Fund, and the only PFA managing Unity Bank plc staff Legacy Fund. We are also the only PFA that managed the ECOWAS Pension Scheme. With an annualised return on investment of over 12 percent and a return of over 72 percent in seven years of our existence.

“It is no surprise that more and more institutions are lining up to appoint FUG Pensions to manage their schemes,” he said.

According to the company, FUG Pensions is set to take advantage of the provisions of the newly signed Pension Reform Act (PRA) 2014, to deepen penetration and grow market share, having placed high premium on human capacity development, professionalism and information and communications technology.

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