• About
  • Advertise
  • Careers
  • Contact Us
Saturday, July 5, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Home Economy Finance

“We Have Paid N1trn to Retirees Since Inception,’ Stanbic IBTC Pension Managers

by Yinka Okeowo
June 10, 2022
in Finance
0
UBA
Advertisements

Stanbic IBTC Pension Managers, a subsidiary of Stanbic IBTC Holdings Plc, said it has paid N1trillion to more than 69,000 retirees since its incorporation on 19 May 2004. This was disclosed during the 2022 Employers’ Forum organized by the company in Lagos.

According to Dr. Babatunde Alayande, Head, PENCOM, South-West Office who spoke at a forum in Lagos, the company currently has 29 pension branches, and 180 banks, and attained the 4 million AUM in 2021.

Assets Under Management (AUM) is the total market value of the investments that a person or entity handles on behalf of investors

According to Alayande, the reviewed 2014 Pension Reform Act ushered in the contributory pension scheme that is fully funded and privately managed based on individual accounts for both the public and private sectors employees to ensure smartness under the new pension reform.

At the forum themed ‘Pension Smart: Equipping your Employees for a better future, he stated that the objective of the pension reformed act is to establish uniform rules, regulations, and standards for the habilitation, payments of retirement benefits for the public service of the federation, the FCT state, local government, and the private sector.

He said the act also made provision for the good operation of the scheme; to ensure that every person who worked received retirement benefits as when due; to assist individuals by ensuring they save to cater for their livelihood at old age and for the proper administration of the system.

“To be smarter, there are provisions in the 2014 Act that made it possible for pension laws in Nigeria to be reviewed periodically to accommodate various dynamics in the operating environment.

“The pension industry currently operates on the pension reform Act of 2014 to avert the confusion on whose authority it is to supervise and regulate pension matters in Nigeria.

The act established the pension commission as the sole regulator and supervisor of all pension matters in Nigeria.

He said the theme of the forum was very apt for pension to be smart to equip employees for the future, employers are expected to adhere to the pension act 2014 to ensure the remittance of pension contributions of employees into their employment account within 7days of salary payment.

Loading

Advertisements
MTN ADS

Author

  • Yinka Okeowo
    Yinka Okeowo

    View all posts
0Shares
Tags: pensionsstanbic IBTCStanbic IBTC Holdings PLC
Yinka Okeowo

Yinka Okeowo

Next Post

FG to buy Tech Solutions from Startups, Promises to Remove Bureaucracy

Comments 0

  1. Pingback: “We Have Paid N1trn to Retirees Since Inception,’ Stanbic IBTC Pension Managers - News for All

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

TeamApt Dennis

TeamApt: Dennis Ajalie Harps on Improved Collaboration in Digital Payments Ecosystem  

7 months ago
Apple Updates Notification System to Better Disclose AI-Generated Summaries

Apple Updates Notification System to Better Disclose AI-Generated Summaries

6 months ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.