Premium Pension Limited, one of Nigeria’s leading Pension Fund Administrators, held a Retiree Forum, with a themed ‘Embracing Your Golden Years: A Fresh Perspective’ which was held in Lagos recently.
The Forum was organized to create more awareness about the Company’s products and services, getting closer to the customers with the aim of getting first-hand accounts of all inquiries targeted at resolving them.
Speaking at the forum, the Acting Managing Director, Mrs. Kemi Oluwashina said, “The industry today has over N20tn and Premium Pension is proud to say that we account for over N1.2tn of it.
The industry has paid out trillions of naira in benefits and we are happy to say that Premium Pension has paid out over N300bn in pension benefits since we started. She further said that “Premium Pension pays over a billion naira in total withdrawals every single month to over 25,000 retirees and we are happy to be part of the successes recorded in the pension industry.”
The Acting Managing Director stated, “I was looking at PENCOM’s Q1 report. We paid over a trillion naira as an industry in pension benefits. Apart from the fact that we have over N20tn in assets. We have paid over a trillion naira under programme withdrawal, the same thing under annuity. A trillion naira is not small money in any standard or any currency. Therefore, in cognizance of the fact that Pension Reform Act has changed the narrative for retirees, Mrs. Oluwashina said having conversations about how to do better was critical.
On Premium Pension’s commitment to retirees, she stated, “We want to grow people’s wealth so that they can enjoy their golden years. It is at the core of what we do. It is our mission. It is not one that we will suddenly wake up and realize that it is no longer relevant. It is and will remain relevant to our business. They are the reasons why we’re in business.
That is why we organized this event. We need to give them (retirees and would-be retirees) that platform to be heard. We need to give them that platform to know that they are appreciated. The feedback from sessions like this we use in our engagement and interaction with the regulators or the respective employers, which in this case includes the federal government, state governments, and of course private sector organizations. We are not only engaging with them as employers, but we’re also the voice of their respective employees. So this feedback for us is fantastic. We love it.
The Company has already raised the bar in the pension industry with its multi-channel mobile app, which gives full access to customers of the Company using state-of-the-art technology. With the recent introduction of PRIMA, the Company remains a clear leader in the digital space with alternative channels to ensure convenience.
Premium Pension has always been at the forefront of pension administration in Nigeria, and the Company has remained committed to providing innovative solutions that meet the evolving needs of its Members. It will be recalled that in 2023 the Company became the first PFA fully owned by Nigerians that achieved Assets under Management (AUM) of over N1 trillion, without any form of business combination.
The Company prides itself as being a pacesetter in the pension industry, in several performance metrics. One of such is the attainment of Information Security Management (ISMS) certification ISO 27001 under the auspices of the British Standard Institute (BSI) in 2015 and a second certification from the same BSI in Quality Management System (QMS), ISO 9001 in 2018. Both certifications were renewed in 2023.
Premium Pension Limited is a licensed Pension Fund Administrator, which started operations in the year 2005.
