Pal Pensions assures safety of contributors’ investments

Towards protecting the pension contributors’ funds, Pal Pensions, one of the licenced pension fund administrators in Nigeria, has assured of good returns on invested assets of its contributors to ensure that the funds are safe and secured.

Also, the company indicated that it is warming up to take a strategic position and higher market share of the evolving micro pension market with a view to expanding its already robust clientele base nationwide.

The Executive Director, Finance and Operations, Godwin Onoro, who stated these during media chart at the just concluded World Pension Summit Africa Special, in Abuja, described the micro pension market segment as the untapped segment.

He noted that this segment of the pension market remains an area the operators are yet to explore but expressed optimism that it holds the future of the industry.

Onoro explained that the pension industry holds great future for the economy, adding that the operators are getting to the peak of harnessing the gains of the formal sector apart from the remaining the informal sector.

Although, he observed that the exploration of the informal sector require efforts of the entire industry – the regulator and the operators at large, he said Pal Pensions, like every other forward looking pension fund administrator, is already preparing for exploring the informal market.
Noting that the framework has not been fine-tuned, he said: “All we are doing now is to prepare the ground. We will have activities when the regulation is actually out, we can go out there, bring these people because by then there will be no limitation because the picture, the modalities for operation will be clearer.

“But as it is now, there are still some limitations and I want to assure you that once the modalities are spelt out by our regulator, Pal pensions, will be among the front-liners in the efforts to explore this all-important market segment.”

On its customer service efforts, Onoro said: “In terms of customer service, Pal pension ranks first. We have put structures in place to ensure quality service to our customers. Such that wherever you are, you can walk into our office and get perfect service. I think in terms of customer service, Pal pension is one of the top three. We have six regional offices, there is no state in the country Pal Pension does not have presence. We have very wide spread.”

While saying that the company prides itself in regular customer engagement efforts such as customer forum, retiree forum, he explained that the company’s personnel move round the branch offices in the country to talk to the clients on retirement plans and how to access their retirement benefits.

On investments, he assured that Pal Pensions is out to put smiles on the faces of the retirees through good returns on investments on their savings, adding that in the mist of the recession, it does not give excuses but has always given the best that will make the contributors happy.