A total of 2008 Pensioners received N2.64 Billion as benefits from Norrenberger Pensions Limited, in 2023, as part of the demonstration of its commitment to ensuring timely payouts and customer satisfaction.
Bolanle Onotu, Acting Managing Director/CEO of Norrenberger Pensions, shared this milestone at the company’s 12th Annual General Meeting in Abuja.
Onotu also disclosed that the company is focused on strategic financial management, which she said has been key to sustaining growth even amid economic pressures such as exchange rate unification and the removal of fuel subsidies.
She also revealed that Norrenberger has paid a cumulative total of N10.16 billion to over 15,467 beneficiaries since its inception in 2006, underscoring the company’s dedication to pensioners’ welfare.
Onotu while providing a detailed breakdown of the benefit payouts, in 2023, revealed that N901 million was allocated for lump sums and arrears to retirees, while N251 million was allocated for death benefits, N91 million as en-bloc payments, and N293 million for temporary access to contributors who lost their jobs.
“Despite challenges in the business environment, we continue to prioritize our clients by ensuring benefits are paid as and when due,” Onotu remarked.
She highlighted that Norrenberger has implemented a system to resolve any arising issues swiftly, further demonstrating its responsiveness and customer-centric approach.
Norrenberger’s Group Managing Director, Tony Edeh commended the company for staying true to the shared vision.
He stated that with consistency and commitment, the company will reach its aspired zenith.
Ibrahim Bala, Chairman of Norrenberger, echoed Onotu’s optimism and commitment to growth, noting that the company’s assets under management rose by 24%, reaching N178 billion in 2023.
Bala praised the company’s resilience and focus on innovation and client engagement, despite challenging economic conditions, with an assurance that the company is looking ahead to a better 2024
The Chairman projected a favorable outlook for the pension industry, with expectations of growth in enrolment and investment returns.
He assured stakeholders of Norrenberger’s continued dedication to delivering robust returns and enhancing client value through strategic, research-driven decisions and prudent risk management.
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