FUG Pensions moves to increase market share

The management of Future Unity Glanvills Pensions Limited (FUG) has commenced moves to increase market share and deepen the business reach of pension fund administration company through a strategic market development initiative.

The company’s Managing Director, Usman Suleiman, stated that the exercise is aimed at growing assets under management three folds.

He said the initiative designed to capture more state accounts, multinationals and even local governments’ employees’ Retirement Savings Accounts (RSAs), as well as legacy funds, is aimed at growing the company’s market share and reposition it for higher profitability.

To this end, the company has commenced the restructuring of its operation to align with best global practices and be in a good position to render effective and efficient service to the customers.

In line with its quality assurance policy, FUG Pensions also promised to render prompt and better services to its existing and potential customers, given its robust information communication technology (ICT) platform recently upgraded and deployed to drive processes.

Suleiman assured that by the time the restructuring exercise is completed, it would catapult the company to be among the top players in the industry.

The company has staff strength of 85 members with thorough bred professionals manning each unit.

FUG Pensions’ leadership development programmes and retreats help to develop the mindset and skills needed. For employees at all levels, the company has training and recognition schemes focused on instilling workplace behaviours desirous of the organisation.

In a similar vein, the company is concluding plans to move into its own property in Yaba, Lagos State which would serve as its corporate head office.

FUG operates from 26 business outlets and six regional offices strategically located across the country.

Although Pension Fund Administrators (PFAs) require a capital base of N1 billion to operate in the country, FUG Pensions increased its capital base N1.5 billion in order to serve its customers better.

Source: Daily Independent