The recent launch of the Retirement Savings Account (RSA) Transfer System by the National Pension Commission which allows pension contributors or retirees to move their RSA from one Pension Fund Administrator (PFA) to another; provided that it is not more than once in a year, will further deepen the choices of pension contributors and retirees over the management of their assets.
The Secretary to the Government of the Federation, Boss Mustapha, who said this at the launch ceremony in Abuja, explained that the pension transfer window is a unique and robust electronic platform that will enable seamless RSA transfers expected to improve service delivery across Nigeria’s pension industry.
Reacting to news of the launch, the management of Stanbic IBTC Pension Managers expressed excitement that it is an opportunity to delight its existing customers with optimal service delivery and further enhance its capacity to welcome more customers wishing to come over now that the transfer window is open.
Chief Executive, Stanbic IBTC Pension Managers, Eric Fajemisin, who spoke at avirtual media session revealed that the firm has long awaited the launch of the transfer window and is set to run with the scheme.
“As a leader in the pensions industry, we have long awaited the transfer window because we understand its importance in driving choice and ensuring that customers can demand optimal service delivery and long-term, efficient management of their pension contributions.
“We have, therefore, been cautious that as we continue to delight our existing customers with optimal service delivery. We must further enhance our capacity to welcome additions to our family who will come over now that the transfer window is open. You can say that this capacity enhancement process sums up our key activities in the last few years.”
According to him, Stanbic IBTC Pension Managers has a strong track record of professional service delivery and takes very seriously its responsibility to ensure transparency in all operations, offer easy, efficient and convenient solutions to its over 1.8 million customers and ensure the safety and long-term value of contributors’ funds. He said, “This year has brought with it many surprises and developments, one of which is the proliferation of digital channels and the need for customers to access financial solutions easily and conveniently. Fortunately, we were ready. We relaunched our mobile app and revamped our website to make it even easier for clients to access information conveniently from whatever location they find themselves. You will agree that such self-service solutions are critical today.
“However, we realised that some of our clients would still need to visit us physically, for various needs and as such, we optimised our branch offices nationwide to ensure highest hygienic standards are maintained so that our customers feel safe and protected when they visit.”
Fajemisin noted that his firm prioritise the ease of retirement pay-outs and therefore optimised her service delivery such that contributors’ can easily apply for their benefits from anywhere in the world with minimal fuss.
“Our website provides extensive information on the support available for our clients, and we have taken things a notch higher to revamp our pension calculator and create a budgeting tool to enable contributors better manage their personal finances and plan effectively for long-term financial success.
“Frankly, the success of our clients is critical to us, and that is why barring the challenges in the past eight months, we created several virtual engagement sessions and financial academies for young professionals, near retirement individuals, retirees and even the children of our clients via our Financial Fitness, Pre-retirement seminars and New School Money events.