NLPC Pension Fund Administrator (NLPC PFA) has reaffirmed its commitment to the safety of funds and brings returns on investment to pension contributors in the industry.
The PFA, made the assurance at a media briefing in Lagos, saying it will continue to leverage technology to achieve sustainable returns and improved service delivery to pension contributors.
Speaking at the meeting the Managing Director/ Chief Executive Officer, Samuel Abolarin, said that the PFA is committed to 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 in the country.
Abolarin said the company has assets under management (AUM) worth over N470 billion as of June 2024 and is working to position itself for greater market share.
According to him, the pension manager has started to achieve stability, moving on the table from 21st position to 10th, with returns on investment coming back stronger again.
On his part, Abolarin said the company has three core principles – integrity, expertise, and experience – emphasising that the company is one of the largest PFAs in Nigeria with a strong branch network.
“Our operational base is about 400,000 customers cut across the public and private sectors. On a good note, we have also recapitalised in line with the National Pension Commission (PenCom) guidelines,” he said.
Also speaking on the investment of the PFA, the Acting Executive Director, of finance, Dipo Taiwo, said that NLPC keeps to regulation instructions on what investment pension managers should invest in the market such as the money market and the rest of them.
Taiwo explained that the Contribution Pension Scheme (CPS) offers a more resilient framework, where pension funds are managed prudently, invested wisely, and insulated from the vagaries of political and economic instability. The CPS offers numerous advantages over the old scheme. It fosters transparency, accountability, and individual ownership of retirement savings. RSA holders receive contribution alerts and periodic statements detailing contributions and returns on investments.
