BusinessDay

NLPC PFA positions for greater market share

NLPC Pension Fund Administrator (NLPC PFA) Limited has positioned for greater market share, promising sustainable returns and improved services delivery for all its clients.

The Company with Assets Under Management (AUM) as at April 2022 at N388 billion with over 320 registered contributors, says its leveraging technology and motivated workforce to deliver the services.

Samuel Abolarin, managing director/CEO of the PFA who resumed as the helmsman of the company in January 2022 said its focus is to certify the needs of customers, prompt payment of benefits, and security of the funds in a very professional manner.

“Our mission is securing a brighter future for workers by ensuring a steady stream of income at retirement through efficient and safe management of their pension savings, employing and motivating the right people using appropriate technology for excellent service delivery.”

He said the returns on investment (ROI) of NLPC PFA from inception to date is in excess of 400 percent, making it a top player in the industry.

Read also: Pension funds opt for money market over FG bonds

“We are currently on number 5 in Fund 2 as at the end of March 2022, and targets to be in number 2 or 3 over the next three years, Abolarin said.

Abolarin said the NLPC PFA operates with strong core values of integrity, experience and expertise.

He said the PFA has been able to overcome its drop in returns in 2021, which was as result of a CBN policy that brought down the rate of returns on bonds, after we it has enjoyed major leap the previous year after mark to market reclassification.

According to him, the company has started to achieve stability once again, moving on the table from 21st position to 10th, with returns on investment coming back stronger again.

Samuel Abolarin, MD/CEO, is joined in the management by Remi Lateef, executive director, Finance; and Seun Babalola, executive director, Operations.

NLPC PFA was incorporated on 19th January 2005 and licensed by the National Pension Commission (PenCom) on January 25, 2006, to administer pension funds in line with the provisions of the Pension Reform Act 2004, now amended to Pension Reform Act 2014.

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