Premium Pension Limited said it has grown its assets to N487billion as at June 2017.
The company also said its Retirement Savings Account (RSA) unit price stood at 3.4562. It also grew its retiree unit price to 2.5735 as at the end of June 2017.
Disclosing this at a recent media forum organised by the National Association of Insurance and Pension Correspondents ( NAIPCO), South West Regional Manager of the company, Fatai Olufeso, who represented the Company’s Managing Director, Wilson Ideva at the event, said Premium Pensions has paid a total of N128billion to 70,374 retirees as at July 2017.
According to him, the retirees are inclusive of those that retired under normal retirement, those that lost their jobs, those that died in the service or after retirement and those that retired as a result of illness.
He spoke on the effectiveness of the CPS in bettering the lots of retirees saying. He said: “Why you have not heard of any case of fraud and will not hear it is as a result of the structures put in place. Once there is an effective structure in place, the structure will drive the system effectively.”
He noted that the CPS, would go a long way in eradicating corruption and poverty in the system, adding that when retirees are seeing the benefits of the CPS to their lives, they will be forced to embrace the system.
He urged the media to continue to support the industry through their reportage of the industry, adding that 10 to 20 years from now the pension industry and the workers will be better for it.