Experts at Stanbic IBTC Pension Managers have cleared contributors and retirees concerns on planning and achieving retirement objectives at its virtual ‘Myth Busters’ forum held recently.
The forum anchored by Deyemi Okalawon listened to retirees and contributors on their experience with Stanbic IBTC Pensions Managers.
It also offered opportunity for the PFA to hear their impressions about the Contributory Pension Scheme(CPS) , how to get involved as an informal sector employee, how to use voluntary contributors to achieve retirement objectives; and getting to understand better the investment philosophy of Stanbic IBTC Pensions, and consumer engagement platforms among other issues.
Olusola Showemimo, a retiree and presentably engaged in agri-business gave good testimony of her experience with Stanbic IBTC Pensions, stating that she gets her pensions promptly every month and that for her has met her retirement expectation.
“We are paid right on time every month, and that for me meets my expectation in retirement.
According to her, her fears was minor since she knew that Stanbic IBTC Pension Mangers was already over a trillion naira in assets and paying 65,000 retirees monthly.
For Olamilekan Bamidele, a legal practitioner: I had thought that pension was a scam when I consider what pensioners go through to get their monthly pensions and even die in the process, but after paying attention and studying the operations of CPS, after I have become a layer, I was convinced it’s a good scheme. And while I was working for somebody, I saw my pension grow and it’s been wonderful, he said.
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From the part of Stanbic IBTC Pension Managers in the panel were Yinka Johnson, head of Business Development; Jide Alo, head of Investment Management; and Peace Thomas-Dawan, head of Benefits Management.
Olumide Oyetan, chief executive Stanbic IBTC Pension Managers had noted that the webinar would answer various questions about pension fund operation, providing first-hand information on issues relating to pension reforms, investments and micro pensions.
“There are various myths regarding the contributory pension’s regime, and these myths have contributed to the negative perception and growth of the pensions industry in Nigeria. Many individuals have been discouraged from investing in their future through opening retirement savings accounts due to wrong information. This event aims to correct these erroneous assertions, misconceptions, and myths associated with contributory pensions,” Olumide said.
The Stanbic IBTC Pension Managers CEO, also said having an existing pension fund would ease post-retirement anxieties while reducing retirees’ dependence on their children during their old age.
He noted that as Nigeria’s leading pension fund administrator with proven records and experience, Stanbic IBTC Pension Managers Limited remained committed to ensuring a good and comfortable post-retirement regime for its customers.
