Stanbic IBTC Pensions pays over N279b to retirees


By Rosemary Onuoha

Stanbic IBTC Pension Managers Limited said it has paid over N279 billion to retirees since its inception in 2006.

The company said that between January and June this year, over 5,000 new retirees received their benefits from the pension fund administrator, PFA, increasing the number of its individual retirement savings account (RSA) holders nationwide to over 1.5 million. A total of N16.6 billion was paid to retirees from January to June this year.

Mr. Eric Fajemisin, Chief Executive of Stanbic IBTC Pension Managers Limited, stated that the company has more than N1.7 trillion in assets under management, a feat that reinforces a strong evidence of its proficiency at ensuring safety and return of value on investment to RSA holders through higher standards of service delivery. The performance also demonstrates the potential of the pension industry to pool the…

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