OAK Pensions Announces 76.8% Growth in Profit



OAK Pensions Limited, one of the licensed Pension Fund Administrator in the country, said in the2016 financial year, it grew its profit by 76.8 per cent from N130.57million in 2015 to N230.88million in 2016.

Chairman, OAK Pensions, Dr. Awa Ibraheem, disclosed this in the annual report of the company he presented to stakeholders at the company’s 11th annual general meeting held in Lagos.

According to him, the company was committed to generating increased returns on the Retirement Savings Accounts (RSA) of its contributors, adding, “We made profit this year and we are satisfied with the returns we are generating for our RSA holders which I believe is a product of the service we are rendering. What is important to us is effectiveness in the totality of the services to our stakeholders, ” he stated.

Ibraheem also said that OAK Pensions was increasing its accessibility in all parts of the country, adding that in its efforts to take pensions to more Nigerians, the company has established offices in the six geopolitical regions of the country, adding that an individual only needs to call the company’s call center and be attended to.

He said in Lagos, Oak Pensions operates two offices likewise in some other parts of the country.

The Chairman also disclosed that the company will explore the potential in the micro-pension scheme when it is officially introduced by the National Pension Commission.

“We are more than prepared because we have started doing our background work; we are just waiting for the federal government to launch the scheme. What we do now is that we have a department that is devoted to micro-pension activities.