As much as having a pension plan is great, what makes your pension worth the while is the fund administrator that you choose. It is common for a lot of people to complain about their pension because they chose the wrong Pension Fund Administrator from the beginning. Sometimes this decision was made by your employer but you would be the one to bear the pain.
This wrong decision is very costly because your PFA manages your retirement savings i.e., they take investment decisions that determine how well your balance grows.
The future of your retirement
Not having a pension plan is bad enough but even when you do have a pension, the question is; does it work to support your financial needs during your golden years? If it does, how well? These are vital signs that you should not ignore if you want to get the most value from your pension.
Your PFA is meant to support you whenever an issue arises. It can be if you change jobs or choose to work as a business owner. Your PFA would have to be aware of these changes to accommodate them.
These are simple issues that should be handled easily by the right PFA.
Having real-time online access to your retirement account is important.
It enables you to know if your employer remits your pension contributions in good time. It also shows you how much you have in your account.
To meet this demand, a Premium Pension mobile app is available to all Members. The user-friendly interface allows for quick access to your Retirement Savings Account, keeping you updated and supports full transparency.
In addition, monthly statements are also sent to members, and on request as you deem fit. There are no restrictions to your requests. Their dedicated customer support team make this possible. Experienced at helping members navigate through issues and providing informed guidance on pension plans, they are always eager to serve you.
At Premium Pension, you have a dedicated account officer always ready to attend to any concerns or issues you might have. This is an addition to the support of the entire customer service team.
Investment returns delivered by your PFA will greatly influence the value of your account balance at retirement.
One of the factors that impacts on investment is inflation as it affects real returns which is quite important for long term horizons.
How will this happen?
Premium Pension has an excellent record in delivering value on pension funds. Trusted by over 700,000 members, they put in the work to make sure all their Members are well prepared for their golden years.
Does your PFA deliver returns that will meet your responsibilities in the future?
Make a switch now to Premium Pension to enjoy the full benefits of your pension. Your golden years should truly be golden.
Simply visit premiumpension.com or call 09 461 5700-4 to make the switch. A customer care representative will aid you in the transition.
Remember, the quality of your lifestyle during retirement should be as you plan it to be. just as it is now. Your PFA plays a great part in bringing that dream to a reality. Make the right switch today.
Joe Biden appoints Nigerian-born Funmi Olorunnipa Badejo as Counsel
Nigerian-American, Funmi Olorunnipa Badejo has been appointed as a member of the office of the White House Counsel.
U.S President-elect, Joe Biden, announced the appointment of Nigerian-American Funmi Olorunnipa Badejo as a member of the office of the White House Counsel, to serve as an Associate Counsel.
He announced it this week in a statement seen on his transition website.
A part of the statement reads:
- “The Counsels are experienced and accomplished individuals, have a wide range of knowledge from various fields and will be ready to get to work on day one.”
What you should know about Funmi Badejo
- Funmi Olorunnipa Badejo, before the announcement, was General Counsel of the House Select Subcommittee on the Coronavirus Crisis, chaired by House Majority Whip, James E. Clyburn.
- Other government roles she has served include serving as Counsel for Policy to the Assistant Attorney General in the Civil Division of the U.S. Department of Justice, Ethics Counsel at the White House Counsel’s Office, and Attorney Advisor at the Administrative Conference of the United States during the Obama-Biden administration.
- She started her career as an associate with the law firm of Manatt, Phelps & Phillips, LLP and was also a Legal Counsel at Palantir Technologies Inc.
- She is a graduate of Political Science from the University of Florida, with a Master of Public Administration (MPA) from Harvard University and holds a Law Doctorate from the University of California School of Law.
- She becomes the 3rd Nigerian American to be appointed under the Biden Government.
Biden’s transition committee said the new Counsels would work under the direction of White House Counsel, Dana Remus, and “help restore faith in the rule of law and the accountability of government institutions.”
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Global Credit Rating reaffirms Sovereign Trust Insurance Plc ‘A-‘rating
Global Credit Rating Limited has reaffirmed an A-rating for Sovereign Trust Insurance Plc.
Global Credit Rating Limited, an international rating agency, has reaffirmed an A-rating for Sovereign Trust Insurance Plc.
According to a press release signed by the firm’s Deputy General Manager, Olusegun Bankole, and seen by Nairametrics, the insurance firm has consistently maintained its rating for over a decade now.
The key drivers that helped in the reaffirmation of the A-rating by the firm are;
- Consistency in paying her claims obligations over the years, as captured in an earlier solvency and operational report for financial institutions in Nigeria and other allied businesses, released by the rating agency in December 2020.
- Listing of rights issue in 2019 which helped to increase the shareholders’ funds of the company to N8.2 billion as at Q3 2020, up by 31% Year-on-Year. This played a catalyst role in maintaining the A-rating status of the firm.
- The capital adequacy of the firm was also pivotal.
According to the information available on the website of the rating agency, the A-rating reflects high claims-paying ability, strong protection factors, modest risk which may vary over time due to economic and/or underwriting conditions.
This fact was buttressed by a section in the press release which reads:
- “Sovereign Trust Insurance Plc has great potentials for growth in the years ahead, considering some of the strategies that have been put in place to propel its operations. Global Credit Rating noted that the company has shown a great deal of consistency in her claims obligations to her numerous customers spread all over the country.”
About Global Credit Rating Limited
- Global Credit Rating Co (Pty) Ltd (GCR) operates as a credit rating services provider. The Company ratings for banks, financial institutions, insurance, corporate and public sector debt, and structured finance serves customers worldwide.
Notore chemicals shuts down 500,000 MTPA fertiliser plant for turn around maintenance
Notore Chemicals has shut down its fertiliser plant for turn around maintenance, in expectation of significant improvement in the Plant’s reliability index.
Notore Chemicals has shut down its fertiliser plant with a 500,000MTPA nameplate capacity for maintenance, in order to restore the plant’s productivity and facilitate a sustainable bounce back in operations.
This information became general knowledge after a notification issued by the Company Secretary, Mrs. Otivbo Saleh, was published on the website of the Nigerian Stock Exchange.
According to her, Notore Chemical Industries Plc had to shut down its fertiliser plant to pave way for the commencement of the Turn Around Maintenance, expected to return the Plant to its 500,000 MTPA nameplate capacity and improve the reliability index to 95%.
The TAM exercise was initially impacted by the COVID-19 pandemic, as the disruption to global businesses occasioned by the COVID-19 pandemic and its attendant restrictions by Governments all over the world affected the timely delivery of procured spares and the arrival to the site of Vendor Service Men (VSM).
Barring any unforeseen circumstance, the Turn Around Maintenance which has started should be completed on 8 March 2021.
- The company’s 2020 audited financial report tells a tale of effete operation, as the company made a Gross loss of N2.9 billion, due to the cost coming from the company’s operation completely eroding all the revenue generated from its operating segment.
- The company managed to post a positive operating profit of N9.5billion at the back of N18.8billion revenue from contracts with customers. However, this was not enough to set the company on the path of profitability, as the heavy loan book of the company impacted its profitability in 2020.
- Upon the completion of the TAM programme, the company expects a significant improvement in the Plant’s reliability index and sustained daily production output of 1,500MT.