Stanbic IBTC pays over N800bn to over 62,000 retirees

The Stanbic IBTC Pension Managers Limited has dolled out over N800 billion to more than 62,000 retirees since inception.
The intimation was made recently during the 2021 virtual Employers Forum organised by the company in Lagos.
Speaking during the opening remarks, Chief Executive, Stanbic IBTC Pension Managers Limited, Olumide Oyetan, described the pension transfer window as a positive development for the pension industry, addiing  that will ensure stability and sustainability to industry while benefiting contributors.
Acccording to him, Stanbic IBTC Pension Managers remains the largest Pension Fund Administrator in Nigeria, both in volume of Retirement Savings Accounts and value of Assets Under Management.
Oyetan, who spoke on the theme: ‘Pension Administration in the New Normal’ said: “We do not take the confidence reposed in us by the contributors 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,” he said.
“Before we begin, please permit me to appreciate each of you, our partners, for your 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,” he added.
In his address, Bolanle Shobowale, said the company is a proud member of the over 150 year old Standard Bank group, that grows contributors reserve.
She added that since establishment, the company has paid over N800 billion to more than 62,000 retirees.