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IEI-Anchor Pensions Target N100bn Assets



Leadership Nigeria News Today

The IEI-Anchor Pensions Managers Limited said it is targeting about N100 billion Assets Under Management (AUM) by the end of 2019, when, hopefully, the pension transfer window would have opened.

Managing director of the firm, Mr. Glory Etaduovie, who disclosed this at the 2018 Annual General Meeting (AGM) of the National Association of Insurance and Pension Correspondents (NAIPCO) held in Lagos at the weekend, stated that the firm has put in place strategic measures that would position it to achieve the feat pointing out that IEI-Anchor Pensions AUM exceeded N80 billion at the end of last month.

He advocated creating awareness on the relevance of pension scheme in the country through individual and collective efforts as paramount to economic growth. Etaduovie opined that the Contributory Pension Scheme (CPS) can help to solve a lot of funding problems in the economy and even address individual needs of the people.

“We need to create more awareness on the relevance of the pension scheme in the country through individual and collective efforts because the industry is responding to the social and critical needs both at micro and macro level. The increasing pension funds will create more capital for investment and infrastructure in the country. On the part of the government, a lot of infrastructural developments will take place. There will be room for long-term funding,” he stressed.

Speaking on the new multi-fund structure introduced in the sector, he opined that it would be of benefit to stakeholders, noting that, the impact of the funds on the economy will help to provide the needed finance for firms and there will be growth potential, assuring that the scheme had multiple advantages for the stakeholders.

While assuring that his Pension Fund Administrator (PFA) has set up a customer service unit, for customers proper documentations, he added that, the unit was a strategy designed to provide an opportunity for intimate interaction with the firm’s customers to ensure that all customers are captured in preparation for the exercise.

Giving an insight on how the customer service unit works, he said, the firm takes time to visit its customers office on appointment to interact with them, take their details as well as solve whatever biometric issues they might have.