VG Pensions affirms Readiness to Meet PenCom’s New Capital Requirement

Veritas Glanvills Pensions (VG Pensions) Limited, one of Nigeria’s licensed Pension Fund Administrators (PFAs), has affirmed its readiness to fully comply with the new capital requirement of N20billion recently announced by the National Pension Commission (PenCom).

The new regulatory requirement which is aimed at strengthening the financial soundness, operational resilience, and long-term sustainability of licensed pension fund administrators, has a deadline of December 31, 2026, for compliance by all operators.

According to Mr. Godson Ukpevo (OON), Managing Director of VG Pensions, the shareholders have expressed their readiness to inject the additional capital required well ahead of the deadline.

 “Our shareholders have demonstrated unwavering confidence in the business and have signalled their intention to use the additional capital to strengthen the company’s operational base including its IT infrastructure, pursue strategic business opportunities within the evolving pension landscape and grow market share” he said.

“We are well positioned to take advantage of potential acquisitions that align with our growth objectives and enhance value creation for our contributors and shareholders alike,” Mr. Ukpevo said.

The company further assured all its stakeholders of its unwavering commitment to prudent fund management, superior customer experience, quality investment returns. The focus of the Company remains on delivering sustainable value to all its stakeholders while upholding its core values of trust, integrity, prudence and partnership.