Nigeria’s biggest pension fund administrator, Stanbic
IBTC Pension Managers Limited, with assets under management of over N941
billion, has taken its drive for retirement planning to Abuja, the Nigerian
capital, with a call to Nigerians to understand the importance of early
retirement planning.
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| Managing Director, Stanbic IBTC Pension Managers Limited, Dr. Demola Sogunle |
Unveiling the
second phase of its interactive pre-retirement seminar in Abuja on Thursday,
the company said it believes that raising awareness of retirement would help
companies and their employees in particular to better understand the imperative
of retirement planning.
Chief Executive
Stanbic IBTC Pension Managers Limited, Dr. Demola Sogunle, speaking at the
seminar, which had the theme, ‘Life renewed at 55 and beyond,’ said the pension
system, with defined contributions as its foundation, presents a clear path for
employees to maintain a stable standard lifestyle even well after
retirement.
He said: “People
are apprehensive about retirement because they do not plan for it early enough.
Ideally, planning for retirement should commence from the day one takes on a
first job. It demands setting aside part
of current income into a retirement savings account. Our central mission at
Stanbic IBTC Pension Managers Limited is to help Nigerians address their
retirement needs.”
The seminar also
provided a platform for the firm to forge closer ties with its customers and to
enlighten the public on developments in the pension industry. Other activities
that featured at the event were presentations on Lifestyle and Health and
Managing Finances, delivered by Dr. Chito Nwana, Medical Director, Tabitha
Medical Center, Abuja and Emmanuel Olumuyiwa Olu-Ayeni, President /CEO
StarBright Consulting Limited, respectively.
“In addition to creating awareness about the
necessity of having a retirement plan and enjoying a comfortable life
post-retirement, another objective of this campaign is to further deepen the
relationship with our customers by reminding them of our availability at
anytime and anywhere to attend to their needs. In so doing, we obtain
significant feedback with which to develop solutions that address their
specific needs. This will not only put them at ease; we are also motivated to
go the extra mile to deliver on our promises,” Sogunle stated.
He emphasized
that planning for retirement should commence early in an individual’s working
life as it typically takes many years to accumulate the necessary funds with
which to live comfortably when the salary eventually ceases to arrive at the
end of every month.
“This seminar,
besides celebrating all of you that will soon transit from contributors to
retired clients of Stanbic IBTC Pension Managers,will also provide an
opportunity to address the concerns or anxieties you might have as retirement
draws close,” he added.
Other issues
that were examined include preparation for retirement; accessing retirement
benefits; health at retirement and investment opportunities
post-retirement.
Stanbic IBTC
Pension Managers, stated Dr Sogunle, is backed by the requisite expertise and
experience and strong financial clout of the Standard Bank Group, ensuring
efficiency in the management and safety of clients’ investments.
“We believe that
the support, experience and capabilities of the Standard Bank Group, to which
Stanbic IBTC belongs, have been instrumental in enhancing our expertise,
resource base and general service delivery; thus reinforcing our goal of
providing excellent service to all our customers,” he said.
At the end of the seminar, Sogunle outlined
three crucial considerations which everyone must give a thought to for a
secured future. The first being that no one will ever care about your
retirement investments as much as you do – so educate yourself. The second
thought is that when making retirement investments, seek professional
assistance – even the best athletes have coaches. The third thought is even if
you may have stopped working for money; your money should never stop working
hard for you.
In addition to
entertaining the guests, Stanbic IBTC Pension Managers also provided free
health checks which included screening for hypertension and diabetes,
comprehensive dental and eye screening with consultation as well as lifestyle
assessment for all the participants.
Stanbic IBTC Pension Managers is a subsidiary
of Stanbic IBTC Holdings, a member of Standard Bank Group, a full service
financial services group with a clear focus on three main business pillars -
Corporate and Investment Banking, Personal and Business Banking and Wealth
Management. Standard Bank Group is the largest African bank by assets and
earnings.
It is rooted in
Africa with strategic representation in 19 countries on the African continent,
including South Africa. Standard Bank has been in operation for over 150 years
and is focused on building first-class, on-the-ground banks in chosen countries
in Africa and connecting other selected emerging markets to Africa and to each
other, applying sector expertise, particularly in natural resources, globally.
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