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Home » Nigeria Pension Industry Changing Rapidly – Stanbic IBTC

Nigeria Pension Industry Changing Rapidly – Stanbic IBTC

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By Onwuemene Judith

Stanbic IBTC Bank PLC, a member of Stanbic IBTC Group is changing rapidly, saying while some of people might be averse to the changes, they are necessary if the industry must grow.

The bank in an address to welcome its customers to the 2021 Stanbic IBTC Pension Managers Virtual Employers Forum, it noted that the world “is in a new normal, saying the theme of the event-Pension Administration in the New Normal;” therefore, encapsulates the purpose for the virtual gathering today.” “This virtual gathering in itself is an example of the new ways of operating in our new normal. We have put together a deliberate agenda that will allow us to have robust discussions around our new normal.”
According to the bank, discussions on new and efficient ways of serving customers in these times are also important to give our customers the confidence that our focus at Stanbic IBTC remains helping them to retire well.
It said that further discussion will be focused on critical emerging trends including the transfer window among other industry updates. “The transfer window is a positive development for the pension industry which in the long run, will offer much stability and sustainability to our industry. We therefore hope that the knowledge we share today will give fresh perspectives on how we can make the most of our new normal and boost contributor confidence in the Nigerian pension industry and the larger financial services industry.”
It encouraged participants to engage as much as possible so that at the end of the forum, “we will all leave with renewed insights and vigor that will help your employees and our clients to retire well, while sharing insights and thoughts on how we as partners can improve on the development of the industry.”
It appreciated the participating partners for their continuous support over the years.” Despite the pandemic and other recent unsettling events, you have remained committed to delivering value in your spheres of influence, while also partnering with us to add value to pension contributors across the country. We are immensely grateful to you for your continuous support of the Contributory Pension Scheme. Some of you are not just partners but also our clients, who have entrusted us with supporting their retirement journey. We do not take the trust, support, and consistency through the years for granted. Thank you very much.
“In conclusion, I will like to thank you once again for your confidence in our ability to deliver value as this is what has made us the largest PFA in Nigeria today, both in volume of Retirement Savings Accounts and value of Assets Under Management; we do not take the confidence reposed in us for granted. As an institution with over 155 years of proven track record in Africa, we remain committed to enabling dreams, expertly managing contributors’ funds and partnering with you to develop our industry and economy,” Stanbic IBTC said.

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